Single-Tenant Retail

CVS | 10YR NNN Ground Lease

29425 Orchard Lake Rd, Farmington Hills, MI

Listing Price: $5,622,050

Click To Access Offering Memorandum
  • Cap Rate6.35%
  • Building SF13,210 SF
  • Price/SF$425.59
  • Year Built / Renovated2008

Investment Highlights

  • NNN Ground Lease CVS
    Zero Landlord Responsibility
  • 10 Years Lease Term Remaining
    (5) 5-Year Options
    5% Rent Increases at the Beginning of Each Option
  • Top 30% Placer.ai Ranking Nationally & Top 25% in Michigan
  • Recently Added Liquor Sales at this Location
  • High Visibility at Hard Signalized Corner of Orchard Lake Road & 13 Mile Road (46,930 VPD Combined)
  • Quick Access to Major Highways
    1 Mile North of I-696 (130,908 VPD)
  • Surrounded by Residential Communities
  • First Freestanding Major Pharmacy Coming from I-696
    Convenient Location for Local Residents
  • Near North Farmington High School (1,268 Students)
  • Strong Retail Market: 11.4 Million SF of Retail within a 5-Mile Radius (91.9% Occupancy Rate)
  • Nearby Large Retailers: Whole Foods, Home Depot, Sacks OFF 5th, TJ Maxx, Marshalls, HomeGoods, Burlington, Kohl’s, & Many Others
  • Numerous Medical Offices Nearby:
    402,000 SF of Medical Office Space within a 1-Mile Radius
    219,000 SF of Medical Office Space between 12 Mile Road & 13 Mile Road
  • Proximity to Major Hospitals:
    Henry Ford West Bloomfield Hospital (4.6 Miles Away) | 191-Bed, All Private Room Facility | Level III Trauma Center
    Corewell Health Farmington Hills (6.2 Miles Away) | 305-Bed Teaching Hospital | Level II Trauma Center
  • Affluent Demographics:
    178,194 Residents & $131,157 Average Household Income within a 5-Mile Radius | Daytime Population: 205,307
  • Oakland County (AAA Bond Rating) is the 9th Wealthiest County in the U.S.
Lead Agent

Darin Gross

First Vice President Investments

Lic: MI 6501384871

Seth Haron

First Vice President Investments

Lic: MI 6501373006

Ashish Vakhariya

Senior Vice President Investments

Lic: MI 6501322501

MICHIGAN BROKER OF RECORD: STEVEN R. CHABEN | 2 TOWNE SQUARE, SUITE 450, SOUTHFIELD, MI | 248.415.2600 | LIC: MI 6502387903