Rite Aid
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Richard G. Ludwig

Senior Director

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PROPERTY ADDRESS

17170 Harper Ave., Detroit, MI 48224

PROPERTY INFORMATION

Price:
$1,934,545
Cap Rate:
8.25%
Term Remaining:
5 Years
Year Built:
1993
Status:
Available

INVESTMENT HIGHLIGHTS

  • NNN Lease Guarantees Zero Landlord Responsibilities
  • Not close to any Walgreens or CVS stores
  • 23 years at this location have extended the lease twice

INVESTMENT SUMMARY

Fortis Net Lease is proud to present a new free standing Rite Aid Pharmacy located at the Intersection of Harper Ave. & Oldtown, just off of Cadieux. This lease was recently extended out to June 30, 2022. This is the second time that Rite Aid has extended the lease. The lease is absolute net lease requiring zero landlord responsibilities.

The subject property is located along a major retail corridor, Harper Ave. with an average daily traffic count over 20,000 The average household income within 5 miles of the property is over $57,650. The surrounding area has a population that exceeds 297,208 residents. Nearby retailers include Subway, Wendy’s, BP, Mobil, Shell and numerous local and national tenants.