Walgreens Sells Retail Property In Muskegon MI For $3.5 Million With Boulder Group's Representation
840 West Sherman Boulevard
$3,500,000
$224/SF
Building Size
15,567 SF
Asset Type
Retail
Closing
May 6, 2025
AI
The property involved in this transaction is a 15,567-square-foot net-leased retail asset located at 840 West Sherman Boulevard in Muskegon, MI. The sale price for this property was $3,500,000, which translates to a price per square foot of $225.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,500,000
- Square Footage: 15,567
- Address: 840 West Sherman Boulevard
- Market: Muskegon, MI
- Price per Square Foot: $225
Randy Blankstein and Jimmy Goodman from The Boulder Group represented the Florida-based seller in this transaction. The buyer is associated with a Michigan-based commercial real estate firm.
Players
Muskegon Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93