1710 West John Beers Road Stevensville, MI 49127
Property profile & analytics
1710 West John Beers Road Stevensville, MI 49127
- Drug stores
- 14,737 SF
- 2.06 lot acres
Property ID
US43-3649862
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- Walgreens / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Medical Laboratory
- Labcorp at Walgreens / Medical Laboratory / Blood Testing Service
Property Details for 1710 West John Beers Road
- Year built
- 2007
- Lot size
- 2.06 lot acres
- Property size
- 14,737 SF
- Zone code
- CMU
- Property type
- Drug stores
- APN
- 12-0027-0008-17-6
- APU
- 1200270008176
Description
This exceptional investment opportunity features a 14,820-square-foot Walgreens pharmacy in Stevensville, Michigan, situated on a 2.06-acre lot. The property boasts a strong absolute triple-net (NNN) lease with zero landlord responsibilities, backed by a corporate guarantee from Walgreens (NASDAQ:WBA). The asking price is $4,319,527, representing a compelling $291.47 per square foot and an attractive 8.45% capitalization rate. The property generates a net operating income (NOI) of $365,000 with 100% occupancy. Benefiting from a high-traffic location at a signalized intersection of W John Beers Rd & Cleveland Ave, experiencing 7,495 vehicles per day, the property enjoys excellent visibility and accessibility. Its proximity to Lakeshore High School (872 students) and Lakeshore Middle School (619 students) further enhances its strategic position. The lease includes a substantial initial term with fifty (50) years of options, each with 12-month cancellation rights, providing long-term stability and predictable cash flow for the investor. This is a rare opportunity to acquire a well-established, high-performing Walgreens property in a desirable Michigan location.
Value Estimations
based on Realmo’s proprietary methodology
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $1,653,000
- AI Estimate
- $1,653,000
Market price range: $505k - $1.65MMarket price range: $505k - $1.65M -
Alternative Use
- Use
- Estimation
- RETAIL STORES
- $1,070,000 Current use
- RESTAURANT
- $2,175,000 Change: +104% Conversion: Easy
- COMMERCIAL (GENERAL)
- $1,785,000 Change: +67% Conversion: Easy
- OFFICE BUILDING
- $1,515,000 Change: +42% Conversion: Easy
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Stevensville
- County
- Berrien
- State
- Michigan
- Longitude
- -86.4955
- Latitude
- 42.0141
- CBSA code
- 35660
- CBSA name
- NILES-BENTON HARBOR, MI METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$29,615
$0.00
$0.00
$689,400
-
$0.00
$0.00
$1,378,800
