Shoppes of Sternberg | Meijer Outparcel | 1720 E Sternberg Rd
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Shoppes of Sternberg | Meijer Outparcel 1720 E Sternberg Rd
12,000 SF 100% Leased Retail Building Muskegon, MI 49444 $3,945,000 ($329/SF) 7% Cap Rate
Investment Highlights
- 12,000 SF High Quality Construction | Outparcel to Meijer and in the Center of Critical Mass of National Retail | Adjacent Lakes Mall and Target Power
- Minutes from I-96 Exit Ramp and Muskegon County Airport
- Service Based Tenants Tailored to Highway Traffic
- Asset is Positioned at the Convergence of Major Highways US 31 and Interstate 96
- Attractive Growth Tenants | Crumbl Cookies Site Ranks 70% Percentile for Crumbl Nationally
- Massive Retail Corridor with Lakes Mall, Lakes Crossing, and Lakeshore Marketplace | 154,000 Visitors Annually
Executive Summary
12,000 SF High Quality Construction | Outparcel to Meijer and in the Center of Critical Mass of National Retail | Adjacent Lakes Mall and
Target Power Center
Asset is Positioned at the Convergence of Major Highways US 31 and Interstate 96
Minutes from I-96 Exit Ramp and Muskegon County Airport
Attractive Growth Tenants | Crumbl Cookies Site Ranks 70% Percentile for Crumbl Nationally
Service Based Tenants Tailored to Highway Traffic
Massive Retail Corridor with Lakes Mall, Lakes Crossing, and Lakeshore Marketplace | 154,000 Visitors Annually
Target Power Center
Asset is Positioned at the Convergence of Major Highways US 31 and Interstate 96
Minutes from I-96 Exit Ramp and Muskegon County Airport
Attractive Growth Tenants | Crumbl Cookies Site Ranks 70% Percentile for Crumbl Nationally
Service Based Tenants Tailored to Highway Traffic
Massive Retail Corridor with Lakes Mall, Lakes Crossing, and Lakeshore Marketplace | 154,000 Visitors Annually
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
12,000 SF
Building Class
B
Year Built
2006
Price
$3,945,000
Price Per SF
$329
Cap Rate
7%
NOI
$276,150
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.13
Lot Size
2.16 AC
Zoning
PUD - Commercial Zoned District
Parking
99 Spaces (8.25 Spaces per 1,000 SF Leased)
Frontage
213 FT on Sternberg Rd
Amenities
- Pylon Sign
- Signalized Intersection
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 15-122-100-0009-80 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $670,700 |
PROPERTY TAXES
Parcel Number
15-122-100-0009-80
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$670,700
Contacts
-
Deno Bistolarides -
Evan Lyons -
Joe Lopez -
Encore Real Estate Investment Services
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Shoppes of Sternberg | Meijer Outparcel | 1720 E Sternberg Rd
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