2701 S Cedar St, Lansing, MI
Retail for Sale - $2,350,000 - 11,201 Sq. Ft. on 1.77 acres
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Property Info
CIMLS# | 963532 |
Location 2701 S Cedar St Lansing MI 48910 | |
Updated | December 19th, 2017 |
Type | Retail |
Price | $2,350,000 |
Building | 11,201 Sq. Ft. |
Land | 1.77 acres |
Property Description
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. Rite Aid Corporation is one of the leading drugstore chains in the United States and a Fortune 500 company. The Company operates its drugstores in 31 states across the country and in the District of Columbia.