Language and Region
Currency

This feature is unavailable at the moment.

We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.

Please check back in a few minutes. We apologize for the inconvenience.

- LoopNet Team

You must register your contact information to view secure information on this listing.

Email*

Please enter a valid email address.

Note: To send this property to multiple individuals, insert a semi-colon between each recipient's email address.

Send me a copy

934 characters remaining

LoopNet has taken a strong stance against the practice of sending unsolicited commercial emails, also known as "spam." Please send these emails only to people you know who would be interested in this property. If someone asks you not to send these emails to them, please comply.

thank you

Your email has been sent!

Walgreens: Muskegon, MI 840 W Sherman Blvd

15,567 SF Retail Building Muskegon, MI 49441 $3,733,333 ($240/SF) 6.30% Cap Rate

.mosaic-column{display:inline-block!important;height:100%!important;width:auto!important}.mosaic-tile i{display:none!important}.mosaic-tile img{height:100%!important;width:auto!important}

Investment Highlights

Brand New NNN Lease
Hard Corner Location at the Signalized Intersection of W. Sherman Blvd. (20,789 VPD) & Henry Street (20,517 VPD)
4.8 MSF Retail, 3.1 MSF Office, 8.7 MSF Industrial & 3,976 Multifamily Units Within 3-Miles

5% Increases Every 5 Years Throughout Term & in Each of the Twelve, 5-Year Renewal Options
Less Than 3 Miles West of US-31 (56,104 VPD)
2 Miles Southwest of Downtown Muskegon, MI | MSA Population: 177,164

Executive Summary

CBRE is pleased to exclusively offer for sale the 15,567-square-foot Walgreens situated on 2.03 acres in Muskegon, MI (MSA Population: 177,164). Walgreens’ NNN lease recently commenced in November 2023 and features ±14.0 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Freestanding

Building Size

15,567 SF

Building Class

Year Built

1999

Price

$3,733,333

Price Per SF

$240

Cap Rate

6.30%

NOI

$235,200

Tenancy

Single

Building Height

1 Story

Building FAR

0.18

Land Acres

2.03 AC

Zoning

Retail

Parking

4.24 Spaces per 1,000 SF Leased

Frontage

122 FT on Henry St

Amenities

Bus Line

Pylon Sign

Signage

Drive Thru

Retailer
99,999 SF
-
Lorem Ipsum
Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.