Retail Space Near Lakes
For Sale
$3,945,000
1720 E Sternberg Rd, Muskegon, MI 49444
12,000 SF retail space outparcel to Meijer.
Property Size12,000 SF
Price / SF$328.75
Days on Market215
Property Features for 1720 E Sternberg Rd
General Information
Standard status
Active
Size
12,000 SF
Property subtype
Retail
Zoning
PUD
Building Details
Building Size
12,000 SF
Listing Agency:
Encore Real Estate Investment Services
Listed By:
Evan Lyons · License #6501400582
(248) 702-0298
Source:
Cpix.resimplifi
Added: Mar 30
Changed: Oct 26
Last Checked: Oct 30 at 10:41AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Encore Real Estate Investment Services
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Investment Insights
Based on property information with market context.
This 12,000 SF retail space features high-quality construction and is an outparcel to Meijer. It is adjacent to Lakes Mall and the Target Power Center, situated immediately off US-31 exit, minutes from I-96 and Muskegon County Airport. The location benefits from a high-traffic highway stop and is part of a massive retail corridor that includes Lakes Mall, Lakes Crossing, and Lakeshore Marketplace. The property attracts growth tenants and features service-based tenants tailored to highway traffic. The location sees 154,000 visitors annually.
Key Highlights
- High‑traffic location immediately off US‑31 exit.
- Outparcel to Meijer and adjacent to Lakes Mall and Target Power Center.
- 12,000 SF of high‑quality construction.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$155,123
Cap Rate
3.93%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,102,460
$3.1M
Cap Rate 7%
$2,216,043
$2.2M
Cap Rate 9%
$1,723,589
$1.7M
Market Conditions
NOI Build-Up for 12,000 SF
Gross rent
$227.5K $18.96/SF
− Vacancy
−$5.9K −$0.49/SF
EGI
$221.6K $18.47/SF
− OpEx
−$66.5K −$5.54/SF
NOI
$155.1K $12.93/SF
Area
Muskegon County, MI
Vacancy
2.60%
Lease Rate
$18.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,102,460
Cap Rate 7%
$2,216,043
Cap Rate 9%
$1,723,589
Alternative Uses
Best Use
Retail
$2.22M
$1.94M – $2.59M
NOI $155,123 @ 7.0% cap · market cap 3.93%
Second Best
—
—
no second resolved use
Theoretical Best
Hotel Hospitality
$112.69M
$98.61M – $131.47M
NOI $7,888,468 @ 7.0% cap · market cap 199.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
419
Businesses Nearby
785k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 22%
Dining 20%
Groceries 18%
Shops & Services 12%
Meijer
Groceries
109,289 visits/mo
0.1 miles
Target
Superstores
94,951 visits/mo
0.5 miles
Menards
Home Improvements & Furnishings
56,555 visits/mo
0.4 miles
Hobby Lobby
Shops & Services
48,707 visits/mo
0.4 miles
T.J. Maxx
Apparel
47,586 visits/mo
0.3 miles
Demographics for 49444, MI
26,281
Population
11,635
Households
2.3
Avg Household Size
38
Median Age
18%
College-Educated
91%
High-School Grad
24.7 sq mi
ZIP Area
1,064
Density / Sq Mi
$52,143
Median Household Income
$34,423
Median Earnings
$941
Median Rent
$159,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - 12,000 SF retail space outparcel to Meijer.
Where is this retail space located?
The property is located at 1720 E Sternberg Rd Muskegon, MI.
What is the asking price?
The asking price for this property is $3,945,000.
What are key features of this property?
This property features: High‑traffic location immediately off US‑31 exit.; Outparcel to Meijer and adjacent to Lakes Mall and Target Power Center.; 12,000 SF of high‑quality construction.
