For Sale
$7,627,885

20 Telegraph RdWaterford Township, MI 48328

High-yield Walgreens in Waterford, MI

Overview

Added:
Dec 11, 2024
Days on market:
118
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens located at 20 S Telegraph Rd, Suite 1, Waterford Township, MI 48328. The 14,820 square foot property, built in 2008, sits on a 1.63-acre lot at a hard corner intersection with high traffic counts (45,000 VPD). The property boasts a strong absolute NNN lease with Walgreens, a corporate guaranteed tenant, with 8.1 years remaining on a 25-year lease (commencing 01/01/2008 and expiring 12/31/2032), including 10 five-year renewal options. The current NOI is $533,952, resulting in a 7.00% cap rate and a price per square foot of $514.70. The property is 100% occupied and benefits from a large population (72,944 within 3 miles) and a cell phone tower on the site leased by T-Mobile USA. This is a prime retail investment with significant long-term potential. The asking price is $7,627,885.

Highlights

  • 8+ years remaining on an absolute NNN lease with Walgreens.
  • Located in Waterford Township, MI, just outside Pontiac, at a hard corner intersection of Route 59 and Telegraph Road.
  • High traffic counts of 45,000 vehicles per day (VPD).
  • Large population of 72,944 within a 3-mile radius.
  • Includes a cell tower leased by T-Mobile.

Property Details for 20 Telegraph Rd

Property type
Retail properties, Drug stores
Square Feet
14,820 SF
Year Built
2008
Lot Size (sq. ft)
71,003 SF

Location Insight

City
Waterford Township
County
Oakland
State
Michigan
Latitude
42.6346753
Longitude
-83.3264268
20 Telegraph Rd, Waterford Township, Michigan

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20 Telegraph Rd
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