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3011 Gratiot Ave

Detroit, MI
Total Size
10,884 sqft
Year Constructed
Year Renovated
Building Class

Current Availabilities

Apr 05

For Lease > Retail - Former CVS Pharmacy

10,880 SF Former CVS Built in 2000

Features - 10,880 SF Former CVS Built in 2000 - Excellent Visbility, Parking & Access - Signalized Intersection, Just 1.5 Miles NE of Downtown - 68 Parking Spaces, Pylon Signage & Drive-Thru Window - Traffic Count Approximately 19,000 on Gratiot - 2016 Real Estate Taxes: $27,632

Listing agent for this listing
Lou Frango, Colliers International

About 3011 Gratiot Ave

Subject property includes a 10,884 SF single story, free-standing retail building developed specifically for CVS Pharmacy. The asset is secured by an Absolute Net Lease from CVS with 8+ years remaining until the first right of termination. After the base term of the initial 22 year lease which comes due January 31st, 2023, the lease automatically continues in full force and effect for another 50 years unless CVS terminates. There are Ten - 5 year options to terminate following the initial term. Lease income adjusts to $$238,697 in the option periods. The lease is guaranteed by CVS, S&P Rated BBB+ and one of the largest pharmacy retailers in the country with a market cap of more than $93B. • CVS Corporate Guarantee• 22 yr Lease thru January 31, 2023• Ten - 5 Year Options• NNN Lease Structure• Delivered Free and Clear of Debt - Area description: Property is located just Northeast of Downtown Detroit, Michigan. Detroit is part of Wayne County and this location is very close to the city center. Detroit is experiencing a renaissance of a city that had fallen on hard times. New investment in the city is at a record pace and international investors have targeted Detroit as a place for future investment. There is a population of over 240,000 people within a 5 mile radius of this location.

Internet Providers for 3011 Gratiot Ave

Provider Technology Max Download Speed Max Upload Speed
Comcast Cable
1 Gb/s
25 Mb/s
Iserv DSL
10 Mb/s
768 kbps
Cavalier Telephone DSL
10 Mb/s
1.5 Mb/s
AT&T Michigan DSL
3 Mb/s
768 kbps

The Neighborhood: Chene

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