2039 E Apple Ave 4,772 SF 100% Leased Retail Building Muskegon, MI 49442 $1,357,401 ($284.45/SF) 7.85% Cap Rate

Marcus & Millichap is pleased to present T-Mobile 2 Tenant Center, a fully leased, dual-tenant retail property located at 2039 E Apple Avenue in Muskegon, Michigan. The property totals 4,772 square feet on 1.21 acres and is 100% occupied under triple-net (NNN) leases, minimizing landlord responsibilities.
This offering provides investors with stable cash flow backed by a long-standing local restaurant and a national wireless carrier brand, combining visibility, reliability, and strong tenant performance. Both tenants maintain established operating histories with staggered lease expirations that support consistent income.
T-Mobile (Authorized Retailer) occupies 2,472 square feet (52% of GLA) under a NNN lease through May 2027. The store operates under the nationally recognized T-Mobile brand, providing strong consumer draw, long-term stability, and consistent retail performance.
Pita Place, a well-known Mediterranean restaurant and drive-thru operating in Muskegon since 2005, occupies 2,300 square feet (48% of GLA) under a NNN lease through April 2029, featuring annual rent increases and two five-year renewal options.
The property enjoys excellent visibility and access along E Apple Avenue (M-46) near U.S. Route 31 and I-96, with a combined traffic exposure of nearly 80,000 vehicles per day. Located approximately 4 miles east of Downtown Muskegon, the corridor connects key residential, commercial, and employment centers, enhancing tenant accessibility and performance.
Surrounding retailers include Walmart Supercenter, ALDI, Family Dollar, Dollar Tree, CVS, and Walgreens, all within minutes of the site. The nearby Walmart Supercenter anchors this corridor, driving consistent daily traffic and reinforcing the property’s retail synergy.
Muskegon continues to see major reinvestment through the $74 million Capital Improvement and Reinvestment Program (2024–2029), encompassing over 120 projects to modernize infrastructure, enhance streetscapes, and revitalize the downtown and waterfront districts. These initiatives, coupled with ongoing private redevelopment and adaptive reuse projects, are fueling long-term growth and strengthening Muskegon’s position as a vibrant, business-friendly lakeshore community.
The surrounding five-mile trade area includes more than 94,000 residents, providing a stable consumer base and strong employment-driven demand. With its national brand tenancy, loyal operating strength, and prime corridor location, Pita Place & T-Mobile offers investors a fully stabilized, minimal-management retail asset positioned within one of West Michigan’s most active and growing commercial corridors.