Walgreens | 2131 W Grand River Ave
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Walgreens 2131 W Grand River Ave
14,550 SF Retail Building Okemos, MI 48864 £3,866,100 (£266/SF) 8% Net Initial Yield
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
£3,866,100
Price Per SF
£266
Net Initial Yield
8%
NOI
£309,288
Tenancy
Single
Number of Floors
1
Building FAR
0.25
Land Acres
1.31 AC
Parking
35 Spaces (2.41 Spaces per 1,000 SF Leased)
Nearby Major Retailers
PROPERTY TAXES
Parcel Number | 02-02-21-254-037 | Improvements Assessment | £724,775 |
Land Assessment | £471,980 | Total Assessment | £1,196,755 |
PROPERTY TAXES
Parcel Number
02-02-21-254-037
Land Assessment
£471,980
Improvements Assessment
£724,775
Total Assessment
£1,196,755
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Walgreens | 2131 W Grand River Ave
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