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31415 FORD RD
GARDEN CITY, MI 48135-1821
Asking Price
$5.29M
Cap Rate
9%
Asset Type
Pharmacy/Drug Retail
Class
Class B
What's Special
Retail | 9.00% Cap Rate | 14,560 Sq Ft <p><strong>LONG TERM LEASE:</strong> Walgreens has 3+ years remaining on their primary lease term followed by ten (10), 5-year renewal options. </p><p><strong>ZERO MANAGEMENT RESPONSIBILITIES:</strong> The Walgreens lease is absolute triple net and requires zero management responsibilities making it an attractive fee simple investment for the passive real estate investor. </p><p><strong>INVESTMENT GRADE CREDIT: </strong>The lease is guaranteed by Walgreens corporate, a trusted, global innovator
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NOI
$80,000
Cap Rate
1.51%
DSCR
0.25
Underwater
Cash-on-Cash
-14.75%
Monthly Payment
$26,166.537
Annual Cash Flow
$-233,998.445
