950 Centerville Rd Sturgis, MI 49091-2089
Property profile & analytics
950 Centerville Rd Sturgis, MI 49091-2089
- Commercial real estate
- 1.58 lot acres
Property ID
US43-2393324
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
- LibertyX Bitcoin ATM / Atm
- Redbox / Cinema / (Bike/Boat/Book/etc) Store
Property Details for 950 Centerville Rd
- Lot size
- 1.58 lot acres
- Property type
- Commercial real estate
- APN
- 052-640-052-00
- APU
- 5264005200
Description
This exceptional investment opportunity presents a freestanding Walgreens pharmacy in Sturgis, Michigan, offering a compelling 9.5% cap rate. The property, located at 950 S Centerville Rd, boasts a 14,820 square foot building on a 1.58-acre lot, constructed in 2005. The Walgreens tenant operates under an absolute triple-net (NNN) lease, expiring January 31, 2030, with ten 5-year renewal options. This provides significant long-term stability and minimal landlord responsibilities. The property enjoys a prime location, benefiting from high visibility on Centerville Road (MI Route 66), a major thoroughfare with over 16,000 vehicles per day. Its strategic position as the only freestanding national chain drugstore within a 15-mile radius of Sturgis, and its proximity (1.5 miles) to the 84-bed Sturgis Hospital, ensures a strong and consistent customer base. The surrounding area features a dense retail corridor with over 850,000 square feet of retail space within a half-mile radius, including major national retailers like Walmart, ALDI, Meijer, and Dollar Tree. The property's strong tenant history (over 19 years of operation at this location) and favorable lease terms make this a highly attractive investment opportunity with a Net Operating Income (NOI) of $300,000. The asking price is $3,189,473.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $4,305,000
- ML approach
- $4,910,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Sturgis
- County
- St. Joseph
- State
- Michigan
- Longitude
- -85.4277
- Latitude
- 41.7891
- CBSA code
- 44780
- CBSA name
- STURGIS, MI MICROPOLITAN 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
$71,184
$25,000
$1,130,700
$1,155,700
-
$50,000
$2,261,400
$2,311,400
