Haggerty Plaza - CVS

1791 S Haggerty Rd Canton , MI 48188-3161

Haggerty Plaza - CVS - retail for sale

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Overview



CVS-anchored shopping center for sale in Canton, Michigan. CVS just extended their lease for 20 years, and the second largest tenant, Jade Child Development Center, just renewed as well. The property sits in the only retail shopping center within a two-mile radius, allowing tenants to benefit from the surrounding dense, affluent population base. The outstanding traffic flow reinforces the continued occupancy of the tenants. Average household income is $85,000 within a 3-mile radius. 

Investment highlights


  • CVS just extended their lease for a 20-year term; making the NOI-weighted average remaining term 12 years
  • Property has been maintained actively over the last 5 years, with over $200,000 in improvements to parking lot, sidewalks, new lights and more
  • Property benefits from strong investment and influx of business into the city
General
Property type Retail
Tenure type Sale/Purchase
Property address 1791 S Haggerty Rd, Canton, MI 48188-3161
Market Detroit
Land in acres 3.78
Building size 25,020  ft2
Year built 2000
Financial
Price $5,250,000
Cap rate 6.26%
Current NOI $328,688.00
Lease
Tenant's name Jet's Pizza
Annual rent $18,000.00
Lease expiration date 06/30/2021
Remaining term 1.8Yrs

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