This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.
You must register your contact information to view secure information on this listing.

Share This Listing

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Walgreens 2131 W Grand River Ave

14,550 SF Retail Building Okemos, MI 48864 $4,900,000 ($337/SF) 8% Cap Rate

Investment Highlights

  • Original 25-Year Lease with 12+ Years Remaining in Term.
  • Close Proximity to Michigan State University | Over 50,000 Students at the Main Campus.
  • Excellent Demographics: Population Exceeds 113,707 within 5 Miles.
  • Corporate Back Guarantee | Walgreens Boots Alliance S&P “BBB”.
  • Prototypical Free Standing Building Equipped with Drive-Thru.
  • Hard Corner Location With Excellent Visibility on Signalized 4-Way Intersection.

Executive Summary

Absolute Net Lease | Zero Landlord Responsibilities.

Property Facts

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,550 SF
Building Class
B
Year Built
2012
Price
$4,900,000
Price Per SF
$337
Cap Rate
8%
NOI
$392,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.25
Land Acres
1.31 AC
Parking
35 Spaces (2.41 Spaces per 1,000 SF Leased)

Nearby Major Retailers

Horizon Bank
Fifth Third Bank
Huntington Bank
Meijer
Independent Bank
PNC Bank
Fitness Together
BIGGBY Coffee
Noodles & Company
Comerica

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
02-02-21-254-037
Land Assessment
$598,200
Improvements Assessment
$918,600
Total Assessment
$1,516,800
  • Listing ID: 32734830

  • Date on Market: 8/8/2024

  • Last Updated:

  • Address: 2131 W Grand River Ave, Okemos, MI 48864

Please Share Your Feedback

We welcome any feedback on how we can improve LoopNet to better serve your needs.
X
{{ getErrorText(feedbackForm.starRating, 'rating') }}
255 character limit ({{ remainingChars() }} characters remainingover)
{{ getErrorText(feedbackForm.msg, 'rating') }}
{{ getErrorText(feedbackForm.fname, 'first name') }}
{{ getErrorText(feedbackForm.lname, 'last name') }}
{{ getErrorText(feedbackForm.phone, 'phone number') }}
{{ getErrorText(feedbackForm.phonex, 'phone extension') }}
{{ getErrorText(feedbackForm.email, 'email address') }}