Cvs

Highlights:

• Single Ownership Structure – No rent holiday; property consists of both the ground lease and sublease under common ownership
• Absolute NNN Lease – Zero landlord responsibilities; tenant covers property taxes, insurance, and all maintenance
• Long-Term Commitment – Recent 10-year lease extension with three (3) additional five-year option periods, each including 10% rent increases
• Corporate Guarantee – Lease backed by CVS Health (NYSE: CVS), an investment-grade tenant with a Standard & Poor’s credit rating of “BBB."
• High Quality Construction – High-quality all-brick building featuring retail on the first floor and storage on the second floor
• Prime Location – Hard corner, signalized intersection of Van Dyke Avenue & 24 Mile Road with excellent visibility to 33,000+ vehicles per day
• Strong Demographics – Over 167,000 residents within a 5-mile radius and average household incomes exceeding $98,000
• Desirable Market – Located in Shelby Township, one of Metro Detroit’s most sought-after northern suburbs, noted for population growth, above-average incomes, and consistent retail demand
• National Tenants Surrounding Investment Property: Burger King, Starbuck's, Advance Auto Parts, KFC, Pizza Hut, Planet Fitness, Walmart, and more

Description:

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Shelby Charter Township, is a charter township and census-designated place located in Macomb County in the U.S. state of Michigan. The township, an affluent northern suburb of Detroit, is located roughly 15 miles north of the city. The 2020 Census places the population at 79,408. Shelby Charter Township is one of the fastest-growing communities in Metro Detroit.

Macomb County is a county located in the eastern portion of the U.S. state of Michigan, bordering Lake St. Clair, and is part of northern Metro Detroit. As of the 2020 Census, the population was 881,217, making it the third-most populous county in the state. The county seat is Mt. Clemens. Macomb County is part of the Detroit-Warren-Dearborn, MI Metropolitan Statistical Area.

The Detroit metropolitan area, often referred to as Metro Detroit, is a major metropolitan area in the U.S. State of Michigan, consisting of the city of Detroit and its surrounding area. There are varied definitions of the area, including the official statistical areas designated by the Office of Management and Budget, a federal agency of the United States. Metro Detroit is known for its automotive heritage, arts, entertainment, popular music, food, cultural diversity and sports. The area includes a variety of natural landscapes, parks, and beaches, with a recreational coastline linking the Great Lakes. Metro Detroit also has one of the largest metropolitan economies in America with seventeen Fortune 500 companies. The Detroit Urban Area, which serves as the metropolitan area's core, ranks as the 11th most populous in the United States, with a population of 3,734,090 as of the 2010 census and an area of 1,337.16 square miles. This urbanized area covers parts of the counties of Macomb, Oakland, and Wayne. These counties are sometimes referred to as the Detroit Tri-County Area and had a population of 3,862,888 as of the 2010 census with an area of 1,967.1 square miles.