$3,733,333 USD
404-504-7900
840 W Sherman Blvd
Muskegon, MI 49441
Campbell Field
HIGHLIGHTS
- Brand New NNN Lease
- 5% Increases Every 5 Years Throughout Term & in Each of the Twelve, 5-Year Renewal Options
- Hard Corner Location at the Signalized Intersection of W. Sherman Blvd. (20,789 VPD) & Henry Street (20,517 VPD)
- Less Than 3 Miles West of US-31 (56,104 VPD)
- 4.8 MSF Retail, 3.1 MSF Office, 8.7 MSF Industrial & 3,976 Multifamily Units Within 3-Miles
- 2 Miles Southwest of Downtown Muskegon, MI | MSA Population: 177,164
OVERVIEW
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 ±13.8 years of term remaining with 5% rent increases every 5 years throughout the term and in each of the twelve 5-year renewal options.
FOR SALE DETAILS
PRICE
$3,733,333 USD
PRICE/SF
$240 USD /SF
CAP RATE
6.3%
% LEASED
-
TENANCY
Single
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
Walgreens: Muskegon, MI
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
-
STORIES
1
YEAR BUILT
1999
SPRINKLERS
-
PARKING SPACES
-
LAND DETAILS
CROSS STREETS
Sherman Blvd and Henry Street
LAND ACRES
2.03 AC
LAND SF
88,427 SF
ZONING
Retail
APN/PARCEL ID
24-036-400-0032-00
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404-504-7900
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