Rite Aid | 12+ Yrs Remaining | Absolute Net | Wellness Store | Strong Store Sales Reported

Agent Info

Brandon Hanna

248.702.0290
bhanna@encorereis.com

Michael Gaggo

248.702.0287
mgaggo@encorereis.com

Deno Bistolarides

248.702.0288
denob@encorereis.com

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Offering Information

4519 Richfield Road
Genesee Township, MI 48506

  • Price: $4,486,656
  • Cap. Rate: 6.25%
  • NOI: $280,417
  • Building Size: 11,180SF
  • Lot Size: 1.91 AC

Investment Highlights

  • Strong Store Sales Performance - Low Rent to Sales Ratio
  • Site Renovated to Wellness Concept in 2014
  • Tenant Exercised Renewal Option Early | Strong Commitment to Site
  • True Rite Aid Corporate Guarantee
  • Attractive 10% Rental Escalations In Option Periods
  • Nearest Walgreens to Subject Site is 3.3 Miles Away
  • Passive Investment | Absolute Net Lease | Zero Landlord Responsibilities
  • Prototypical Freestanding Building with Drive-Thru
  • Household Income Within 1 Mile Radius Exceeds $62,000
  • Located Adjacent to Senior Citizen Center and a 100 Unit Apartment Complex
  • Genesee Rd and Richfield Rd Boasts Ample Traffic of Over 30,000 VPD+/-
  • Site is Located 3-Miles From I-475, which is Connected to I-75, which is a major Interstate Highway System that Runs Through Several States
  • Subject Site Located Within 5 Miles From The University of Michigan North Campus (8,289 Student Enrollment) and Mott Community College (10,456 Stu-dent Enrollment)
  • Within Close Proximity to a High School, Middle School, and Elementary School
  • Neighboring National Retailers Include: McDonald’s, Halo Burger, Dollar General, Little Caesars, Marathon, First Place Bank, and more