CVS Pharmacy

Highlights

• Absolute NNN Ground Lease with Zero Landlord Responsibility - The property is encumbered by an absolute NNN ground lease, with CVS responsible for roof, structure, parking lot, HVAC, taxes, insurance, and all operating expenses, delivering truly passive income for ownership
• Corporate CVS Credit – Investment-Grade Tenant - Leased to CVS Pharmacy, one of the nation’s largest and most established pharmacy operators with 9,160+ locations nationwide and $372.8B in annual revenue, providing long-term income security backed by corporate credit
• Dense, Affluent Suburban Detroit Demographics - The property is surrounded by high-income households with average household incomes exceeding $139,000 within a 5-mile radius, supporting strong pharmacy demand and long-term store performance
• Long-Term Lease with 9+ Years of Remaining Term - The lease runs through January 2035, offering durable cash flow with five (5) additional 5-year renewal options, extending potential tenancy well beyond the initial term.
• Modern, Purpose-Built CVS Prototype - Constructed in 2008, the ±13,210 SF building features a modern layout, ample parking, and strong signage, aligning with CVS’s long-term operational standards.
• Prime Hard-Corner Location with Exceptional Traffic Exposure - Strategically positioned along Orchard Lake Road (32,115 VPD) near 13 Mile Road (14,815 VPD), ensuring excellent visibility, accessibility, and long-term real estate relevance
• Strong Rent Growth via 5% Increases in Option Periods - Built-in 5% rental escalations during each option period provide predictable income growth and hedge against inflation over the long term

Location

Points of Interest