Walgreens
PRICE
CAP RATE
SQUARE FOOTAGE
LEASE TERM

CONTACT US REGARDING THIS LISTING

Robert Bender

Managing Partner

Douglas Passon

Managing Partner

DOWNLOAD LINKS

Download Property Information

PROPERTY ADDRESS

17071 Fort St., Riverview, MI 48193

PROPERTY INFORMATION

Price:
$4,650,000
Cap Rate:
6.73%
Term Remaining:
11 Years
Year Built:
1998
Status:
Available

INVESTMENT HIGHLIGHTS

  • Recent 10 Year Lease Extension Shows Commitment to the Site
  • Guaranteed Lease | S&P Rating “BBB” | Investment Grade
  • Excellent Store Sales Volume
  • Landlord Made Recent Roof Improvements (2017)
  • Attractive Assumable Loan Requires a Minimal Down Payment

INVESTMENT SUMMARY

Fortis Net Lease is pleased to present a Walgreens located at 17071 Fort Street in Riverview, MI. This 20 year NN lease has minimal landlord responsibilities and there are approximately eleven years remaining as the tenant recently extended the lease for ten years. There are eight, five year options and the lease has a corporate guarantee. The landlord also made some recent roof improvements in 2017.

The subject property is in a densely populated area with over 180,000 residents within five miles. The median home value within three miles ex-ceeds $110,000 and the average household income exceeds $66,000. The subject property is located near other national retail tenants including McDonalds, Advance Auto Parts, Lowe’s, Meijer, TJ Maxx, Michaels, AutoZone, Planet Fitness, Dollar General and Dollar Tree.