For Sale
$2,397,696

8900 Macomb St Grosse Ile Township, MI 48138

High-yield, single-tenant retail investment.

Property Records

Overview

Added:
Dec 11, 2024
Days on market:
139
Exceptional investment opportunity: a fee-simple, 10,704 square-foot CVS Pharmacy in Grosse Ile Township, Michigan. This Class B, single-tenant net-lease property boasts a strong 6.25% cap rate and a substantial net operating income (NOI) of $149,856. Built in 2004, the property sits on a 0.75-acre lot with 30 parking spaces and features a 100% occupancy rate with a remaining lease term of 3.4 years. The property benefits from rent bumps and is situated in a highly desirable, affluent area known for its country clubs and marinas. The location offers a high barrier to entry due to strict zoning regulations, contributing to potential property appreciation. This is a rare opportunity to acquire a well-performing asset in a prime location with zero competition, priced below replacement cost. The property is zoned MSD and has a long history of pharmacy operation at this location. This NNN investment offers a secure and profitable addition to any portfolio. The asking price is $2,397,696.

Highlights

  • Prime location in exclusive, affluent area with renowned country clubs, marinas, and golf courses.
  • High barrier to entry due to strict zoning, limiting new commercial development and driving property value appreciation.
  • Built in 2004.
  • Offered below replacement cost.
  • 50+ years of continuous pharmacy operation on-site.

Property Details for 8900 Macomb St

Property type
Retail properties, Drug stores
Square Feet
10,704 SF
Class
B
Year Built
2004
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Grosse Ile Township
County
Wayne
State
Michigan
Latitude
42.130659816546
Longitude
-83.156088889503

FAQs

What type of property is this?
Retail property - High-yield, single-tenant retail investment.
Where is the retail property located?
The property is located at 8900 Macomb St Grosse Ile Township, MI.
What is the asking price?
The asking price for this property is $2,397,696.
What are key features of this property?
This property features: Prime location in exclusive, affluent area with renowned country clubs, marinas, and golf courses.; High barrier to entry due to strict zoning, limiting new commercial development and driving property value appreciation.; Built in 2004.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
8900 Macomb St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message