CBRE is pleased to present for sale of a well-located Walgreen' s drugstore in Fenton, Michigan. The store contains 14,490 square feet on 2.76 acres with 65
parking spaces. The store has strong sales which are available. The property has a triple-net lease with with no landlord responsibilities. The lease commenced on September 15, 2002, and it expires on September 30, 2027. The net rent is $339,066, or $23.40 psf. The property is ideal for an investor with an immediate 1031 exchange requirement. The property is offered on an all-cash basis for $5,382,000 or a 6.30% cap rate.
on request.
The store is located at the signalized intersection of West
Silver Lake Road and Foley Glen Drive, directly fronting West Silver Lake Road. The property has commanding visibility in both directions along West Silver Lake Road which has a daily traffic count of over 10,000 vehicles. The property is located in a regionally dominant retail area with national tenants including; Target, Chase Bank, Shell, Michaels and Home Depot. The Property is in the City of Fenton, Michigan which is between
Detroit and Flint, Michigan. Situated in the southeast portion of the state, Fenton, MI. is well located between Metropolitan Detroit and the City of Flint. Fenton is primarily located in Genesee County although parts of the community are in both Oakland and Livingston Counties. Fenton is a town that enjoys the benefit of many inland lakes, relatively high incomes and
many amenities. Fenton is well located and easily accessible from US-23 via multiple freeway interchanges.
