Replaceable Rent Levels Detroit MSA 5% Incr 36567 Goddard Rd Local commercial 1 168 m² À vendre Romulus, MI 48174 1 470 937 € (1 259,39 €/m²) Taux de capitalisation 8,50 %

We are pleased to market for sale the CVS property located at 36567 Goddard Rd, Romulus, MI 48174 ("The Property"), within the Detroit MSA. CVS has been successfully operating at this location for 7 years and has over 2.5 years remaining in the primary term. The lease calls for 5 (5-year) options with 5% rental increases in each option period.
This property offers investors the rare opportunity to purchase a national-brand pharmacy in an established in-fill location with replaceable rents (CVS is paying $11/sf in rent).
The Romulus Location has been the main downtown pharmacy since the 1960s, when it was called Kidwells Retail Pharmacy. In 1990, it was purchased by Sav-on and moved to its current location. In 2018, CVS purchased the drugstore chain Sav-on and extended the new lease for 10 years. The Property is the only national chain drugstore within a 4-mile radius.
The Romulus Trade Center, 2 miles NE of the Property, is a new 171-acre development featuring over 1 million square feet of Class A industrial space, expected to create approximately 1,500 jobs. Kroger also recently completed a new 606,000 square foot storage and distribution center 2 miles south of the Property, adding to the over 16.5 million square feet of existing industrial space within 3 miles of the Property.
Listed in conjunction with Brian Brockman, Bang Realty - Michigan Inc, 513-898-1551, wg@bangrealty.com, MI DRE Lic. 6502428679.