Romulus, MI

• The lease allows for approximately five percent (5%) increases every five years in the option periods.
• In 2018, CVS signed a 10 year lease for $11.42 per square foot.
• CVS acquired the drugstore chain Sav-on in 2018. Of the 22 Sav-ons in the Detroit market, they decided to keep 10 of the higher performing locations, including this location in Romulus.
• Only major drugstore within a 4 mile radius.
• The property is located in the heart of Romulus, approximately 23 miles southwest of downtown Detroit and in Wayne County, the most populated county in the Detroit Metropolitan Statistical Area (MSA) which has over 4.4 million residents.

We are pleased to market for sale the CVS property located at 36567 Goddard Rd, Romulus, MI 48174 ("The Property"), within the Detroit MSA. CVS has been successfully operating at this location for 7 years and has over 2.5 years remaining in the primary term. The lease calls for 5 (5-year) options with 5% rental increases in each option period.

This property offers investors the rare opportunity to purchase a national-brand pharmacy in an established in-fill location with replaceable rents (CVS is paying $11/sf in rent).

The Romulus Location has been the main downtown pharmacy since the 1960s, when it was called Kidwells Retail Pharmacy. In 1990, it was purchased by Sav-on and moved to its current location. In 2018, CVS purchased the drugstore chain Sav-on and extended the new lease for 10 years. The Property is the only national chain drugstore within a 4-mile radius.

The Romulus Trade Center, 2 miles NE of the Property, is a new 171-acre development featuring over 1 million square feet of Class A industrial space, expected to create approximately 1,500 jobs. Kroger also recently completed a new 606,000 square foot storage and distribution center 2 miles south of the Property, adding to the over 16.5 million square feet of existing industrial space within 3 miles of the Property.