1531 Sherman BlvdMuskegon, MI 49441

For Sale
$1,300,000

Muskegon, MI: Thriving FEC, 59,497 SF

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional 59,497 square foot, multi-tenant entertainment center in Muskegon, Michigan, presents a unique investment opportunity. Located on a 4.52-acre lot at 1531 W Sherman Blvd, 49441, this single-story building boasts 350 parking spaces and features a bowling alley, event center, and restaurant, currently operating at 100% occupancy. The property offers 20-foot ceilings in sections, three overhead doors ideal for large equipment, and is zoned C-NW. With a 14.50% cap rate and an asking price of $1,300,000, this represents a strong return on investment. The land value is $22.67 per square foot. The property's current configuration as a family entertainment center is highly successful, but its size and location also offer significant potential for repositioning and redevelopment. The high volume of traffic (20,000+ vehicles per day) in the area presents opportunities to further enhance the property's value through additional retail or office space development. This iconic Muskegon property offers a compelling blend of immediate income and long-term growth potential.

Highlights

  • $1,300,000 asking price for this Muskegon, MI retail/special purpose property.
  • 14.50% cap rate with 100% occupancy.
  • 59,497 square feet on a 4.52-acre lot, featuring 350 parking spaces.
  • Multi-tenant property including a bowling alley, event center, and family entertainment center.
  • One-story building with 20-foot ceilings in areas and three overhead doors.

Property Details for 1531 Sherman Blvd

Property type
Bowling alleys, Other specialty properties
Square Feet
59,497 SF
Buildings
1
Stories
1
Lot Size (sq. ft)
196,891 SF

Location Insight

City
Muskegon
County
Muskegon
State
Michigan
Latitude
43.2047883
Longitude
-86.2808443
1531 Sherman Blvd, Muskegon, Michigan

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1531 Sherman Blvd
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