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840 West Sherman Boulevard

Walgreens Sells Retail Property In Muskegon MI For $3.5 Million With Boulder Group's Representation
SOLDRetail

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

Jimmy Goodman

The Boulder Group

Broker

$285.4M

vol

67 deals

Broker
Walgreens
WalgreensSeller

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