Walgreens | Dollar Tree

23090 Coolidge Highway - Oak Park Michigan 48237

LTV (Loan to Value)	65.00%	Current NOI	$705,333.00
Interest Rate	4.250%	Capital Rate	8.500%
Fixed Term	10 Years	Land Area	+/- 3.5 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$5,393,722.75	Property Type	Two Retail Assets
Payment	$29,219.85	Property Lease	Multi-Tenant
Bulding Size	-13,802 SF	Remaining Terms

Location Description

NNN Lenders is pleased to offer for sale to qualified investors, the opportunity to purchase the fee-simple interest in two standalone retail buildings, 100% occupied by Walgreens and Dollar Tree, located at 13550 West Nine Mile Road and 23090 Coolidge Highway in Oak Park, MI 48237 (the “Property”). The Property is located roughly 15 miles north of downtown Detroit on the hard, signalized and well-trafficked intersection of 9 Mile Road and Coolidge Avenue, considered Oak Park’s primary shopping corridor (64k+ VPD). Oak Park is a desired part of the Detroit metropolitan area, offering access to a majority of major arterials and operating contrary to regional trends in and around Detroit. In recent years, the city has experienced population growth that has spurred economic expansion, and there is currently an effort underway to strategically plan for future development.

Highlights

Strong Performing Walgreens Location – See Agent for detailsRecent Dollar Tree Renewal – Exercised the first of 3, 5-Year renewal…

Property Description

Oak Park is a city in south Oakland County in southeast Michigan. It is a northern suburb of the city of Detroit, which is roughly 12 miles south in neighboring Wayne County. Oak Park was once part of neighboring Royal Oak and annexed portions of Royal Oak Township as recently as 2004 to expand its land and tax base. Today the city covers 5.16 square miles sandwiched between Interstate 696 and Michigan Highway 102. As of the 2010 census, the population of Oak Park was 29,319. It is estimated to have grown nearly 1% to 29,594 between 2010 and 2012.Oak Park has a strong tradition of affordable housing, stable neighborhoods and recreational amenities. These factors, as well as its central location, have positively impacted the city as recent regional trends have negatively impacted Detroit and a majority of its metropolitan areas. In fact, rising home prices today in the northern and western suburbs of Detroit makes Oak Park attractive to young families and first time home buyers, driving population growth and business opportunities.