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    The Largest CRE Database in the US with Over 1 Million Listings

    1710 West John Beers Road Stevensville, MI 49127

    Sponsored
    For Sale
    $4,319,527

    Stevensville, MI: NNN Lease, Strong Tenant

    Property size:
    14,820 SF

    Property Features for 1710 West John Beers Road

    General Information

    Property type
    Other retail properties
    Square Feet
    14,820 SF
    Price / Square Foot
    $291
    Elevators
    N/A
    Lot Size
    89,734 SF
    Net Operating Income
    $365,000

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    Overview

    Walgreens Investment Opportunity in Michigan

    This exceptional investment opportunity features a Walgreens located at 1710 West John Beers Road, Stevensville, Michigan. The property includes a 14,820 square foot building on a 2.06-acre lot. The absolute triple-net (NNN) lease structure assigns zero obligations to the landlord, providing a passive income stream. The lease is corporately guaranteed by Walgreens (NASDAQ:WBA). The current lease extends beyond eight years and includes fifty-year options with twelve-month cancellation rights. The property's location at the signalized intersection of West John Beers Road and Cleveland Avenue ensures high visibility, with a daily traffic count of 7,495 vehicles. The property benefits from its proximity to Lakeshore High School (872 students) and Lakeshore Middle School (619 students). The net operating income is $365,000, representing a compelling investment in a stable, high-traffic area. This is a rare opportunity to acquire a well-performing Walgreens location with significant long-term potential.

    We can help!

    Listing Contact
    Jacob Abusharkh

    Learn more

    Property Insight Report

    HighLights

    • Exceptional Walgreens location in Stevensville, MI, offering a strong, stable investment.
    • NNN lease with zero landlord responsibilities and corporate guarantee.
    • High‑traffic intersection (7,495 VPD) near two schools, ensuring consistent customer flow.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy Walgreens Pharmacy COVID-19 Drive-Thru Testing ... Medical Laboratory Labcorp at Walgreens Medical Laboratory

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Stevensville
    State
    Michigan
    Longitude
    -86.495496
    Latitude
    42.014079

    Nearby Comparable

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      Walgreens Investment Property, MI

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      1710 West John Beers Road |, Stevensville, MI 49127
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      Established Restaurant with Drive-Through

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    Nearby Similar for Sale

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      Walgreens Investment Property, MI

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      1710 West John Beers Road |, Stevensville, MI 49127
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      Stevensville Industrial Property - High Traffic Area

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    FAQs

    What type of property is this?
    Other retail property - Stevensville, MI: NNN Lease, Strong Tenant
    Where is this other retail property located?
    The property is located at 1710 West John Beers Road Stevensville, MI.
    What is the asking price?
    The asking price for this property is $4,319,527.
    What are key features of this property?
    This property features: Exceptional Walgreens location in Stevensville, MI, offering a strong, stable investment.; NNN lease with zero landlord responsibilities and corporate guarantee.; High-traffic intersection (7,495 VPD) near two schools, ensuring consistent customer flow.
    (415) 269-2474
    Request Owner's contact information
    1710 West John Beers Road Stevensville, MI 49127
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    Stevensville, MI 49127
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1710 West John Beers Road Stevensville, MI 49127
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    We can help!
    Listing Contact
    Jacob Abusharkh
    (415) 269-2474
    Learn more
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