1171 E Sherman Blvd - Drug Store FOR SALE


Norton Shores, MI 49444
$4,203,890 USD
619-297-0055
1171 E Sherman Blvd, Norton Shores, MI for Sale
$4,203,890 USD
Drug Store - FOR SALE
1/3
null | 10% Cap Rate

1171 E Sherman Blvd
Norton Shores, MI 49444


HIGHLIGHTS

  • Absolute NNN lease with twelve (5-year) renewal options and 5% rent increases in the first four renewal periods.
  • Located 0.5 miles from Trinity Health Muskegon Hospital, a 358-bed facility.
  • West Shore Plaza, a 959K sf retail center anchored by Walmart Supercenter, Lowe's, and Sam's Club, is situated approximately 1-mile to the east.
  • Situated along Sherman Boulevard, a primary east-west corridor linking residential areas, retail centers, and medical service.
  • In March of 2025 GE Aerospace announced they are planning a $70 million expansion at their site in Norton Shores.

OVERVIEW

We are pleased to market for sale the Walgreens property located at 1171 E Sherman Boulevard, Norton Shores, MI 49444 (the “Property”). Walgreens has 4 years of firm term remaining before the option periods. Walgreens operates under an absolute triple net lease, which provides for no landlord obligations whatsoever and calls for a 5% increase in the first four options. The Property is located along Sherman Boulevard, a primary east-west thoroughfare in the Muskegon area. It is located within a high-traffic commercial corridor and positioned less than a mile west of Westshore Plaza, a 959,000-square-foot retail center anchored by Sam’s Club, Walmart Supercenter, and Lowe’s. The Property is also located adjacent to the Trinity Health Muskegon Hospital Campus, a 358-bed full-service medical facility. Norton shores is positioned at the intersection US-31 and I-96 which provide strong connectivity to Grand Rapids and other regional hubs in the surrounding area. Nestled along Lake Michigan’s eastern shore, Norton Shores and neighboring Muskegon boast over 32 miles of scenic shoreline, state parks, and regional attractions like Michigan’s Adventure and the USS Silversides Submarine Museum. Listed in conjunction with Brian Brockman, Bang Realty - Michigan Inc, 513-898-1551, wg@bangrealty.com, MI DRE Lic. 6502428679.

FOR SALE DETAILS

PRICE

$4,203,890 USD

PRICE/SF

$285 USD /SF

CAP RATE

10%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Adjacent to 358 Bed Hospital | 5% Incr in Opt

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Convenience Store, Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2006

SPRINKLERS

-

PARKING SPACES

45

LAND DETAILS

LAND ACRES

2.26 AC

LAND SF

98,446 SF

ZONING

GO

APN/PARCEL ID

27-440-000-0001-00

ASK ABOUT THIS PROPERTY

Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

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Jason PongsrikulPharma Property Group- Drugstore SpecialistsMore Info
619-297-0055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.