Walgreens

3221 Fort Street, Wyandotte, MI
Deal Type:
Net Lease
Price:
$4,560,000
Cap Rate:
5.85%
Current Rent:
$266,760
Lease Type:
Triple Net
Lease Term:
15 years
Landlord Responsibilities:
None
Renewal Options:
12 x 5 Year
Building Sq. Ft.:
14,820 SF
Site Size:
1.44 Acres
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners
  • walgreens stream capital partners

Investment Highlights

  • Commitment: Walgreens has a 30+ year operating history and is signing a new, 15-year absolute NNN lease with 5% rent increases showing their commitment to the location
  • Absolute Net Lease: Allows for a true, passive investment with no management required
  • Location: The property is located along State Highway M-85 with direct access into Detroit with exposure to 35,000+ VPD
  • Dense Retail Corridor: This Walgreens is located among numerous national retailers including Aldi, Meijer, AT&T, Subway, Arby’s, A&W, T-Mobile, and Citizens Bank, among others
  • Tax Benefits: Investors can depreciate the building due to fee simple ownership. Rental increases in initial term and option periods provide a hedge against inflation

Listing Agents

Dean Copans

Managing Director
650 465 3993
[email protected]

Jordan Shtulman

Managing Principal
847 226 4133
[email protected]

Listed in conjunction with The Kase Group Real Estate Investment Services

Broker of Record: Mary McCarthy, Lic. #6​5​0​2​4​3​1​3​6​7

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