Subject property includes a 11,201 SF single story, free-standing retail building developed specifically for Rite Aid Pharmacy. The asset is secured by a Net Lease from Rite Aid (Landlord to maintain roof & structure) with the first right of refusal in June 2017. There are 5 - Five Year Options following the primary term of the lease in which rent escalates by 10% in each option period. The lease is guaranteed by Rite Aid, S&P Rated B, with a market cap of more than $5.0B. Sales Info: ■ Cap rate: 7.0% ■ Commision split: 1.0% ■ NOI: $153,000 Location Description: Property is located in the heavily traveled S Cedar St commercial corridor of Lansing, Michigan and blocks from McLaren–Greater Lansing Hospital. Interstate I-496 and downtown Lansing, the State Capitol of Michigan, are minutes to the north of this property. Population exceed 210,000 within a 5 mile radius. Highlights: ■ Rite Aid ■ Initial Lease Term Through June 2017 ■ Minutes from Michigan Capitol Building ■ Blocks from McLaren–Greater Lansing Hospital ■ Escalations in Option Periods « show less
Subject property includes a 11,201 SF single story, free-standing retail building developed specifically for Rite Aid Pharmacy. The asset is... show more »
Create a Property List
Please describe your commercial real estate requirements.
We’ll introduce you to local properties that match your criteria.
Rofo has the most comprehensive commercial real estate listings in your area. Search for office spaces, retail spaces, and industrial spaces. We compile all the information you need to find the office spaces that match your business needs and provide quick access to the office brokers. Use our friendly user-interface and detailed listings to search your area for small business office spaces for rent and for lease.