CVS Retail Center - Multi-Tenant NNN Investment Opportunity

Shopping Center for Sale
CVS Retail Center - Multi-Tenant NNN Investment Opportunity
Catylist Listing ID: 30023942
Building Size (RSF): 15,722 SF
Sale Price: $3,100,000
Unit Price: $197.18 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Sale Terms: Cash to Seller, Other
Cap Rate: Undisclosed
Last Updated: 6/15/2017

Overview / Comments

  • 15,722 SF neighborhood retail strip center
  • 100% occupied – NNN multi-tenant leased asset
  • Minimal landlord responsibilities
  • CVS Health Corporation lease (Nasdaq: CVS)
  • Long term remaining leases with rent escalations and potential upside/value-added opportunity
  • Located in the vibrant 9 Mile and Woodward, Ferndale retail corridor
  • Year 1 NOI: $212,450
  • Sale price: $3,100,000

Additional Details

Nearest MSA: Detroit-Warren-Dearborn
County: Oakland
Submarket/Township: Royal Oak Vicinity
Tax ID/APN: cpixtax
Zoning: C-3
Parking Description: Surface

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,896 188,382 505,663
Median Age: 36.17 38.12 37.64
Households: 9,577 79,938 203,920


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