Property Listing No Longer Available for Sale

2701 S Cedar St, Lansing, MI

Retail for Sale - $2,350,000 - 11,201 Sq. Ft. on 1.77 acres


Property Info

CIMLS#971742
Location
  2701 S Cedar St
  Lansing MI 48910
UpdatedFebruary 17th, 2018
TypeRetail
Price$2,350,000
Building11,201 Sq. Ft.
Land1.77 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.


Financials