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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

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
£471,980
Improvements Assessment
£724,775
Total Assessment
£1,196,755
  • Listing ID: 32734830

  • Date on Market: 08/08/2024

  • Last Updated:

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

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