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    Cheboygan, MI
    Drug Store

    Cheboygan, MI Drug Stores for Sale

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    NNN Leased Walgreens with Drive-Thru
    Updated: Nov 21, 2025
    NNN Leased Walgreens with Drive-Thru

    991 S Main St, Cheboygan, MI 49721

    $3,662,000
    14,550 sqft
    Long‑term NNN lease to Walgreens Corporate guaranteed through February 2032, providing stable income.
    High visibility location at a signalized intersection on Main Street (M‑27), a primary commercial corridor with 13k+ VPD.
    High 9.50% Cap Rate.
    Located near McLaren Northern Michigan medical center and across from Cheboygan County Courthouse, attracting consistent traffic.
    No CVS Pharmacy, Rite Aid or other Walgreens competition within a 30‑mile radius.
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    Turn a Listing Into an Investment Snapshot Cap Rate, Potential NOI, Demand score for every listing. Go To Analytics Center
    Based on your search, we've compiled 5 Potential Opportunities for your consideration. Besides 1 Active listings in Cheboygan, MI, we suggest exploring several alternatives: 4 properties in Nearby Cities

    Opportunities in Nearby Cities

    Here are 4 Similar properties we found in Nearby Locations for your consideration.

    Former Drug Store Building
    Former Drug Store Building

    1104 E Front St, Traverse City, MI 49686

    $2,995,000
    12,554 sqft

    C-3-zoned retail property with established co-tenancy and access to major area roads.

    View details
    Freestanding Drug Store with Drive-Through
    Freestanding Drug Store with Drive-Through

    5014 Clio Rd, Flint, MI 48504

    Contact for pricing
    11,100 sqft

    D-3-zoned retail building positioned at the Clio Road and Pierson Road intersection in Flint.

    View details
    Freestanding NNN Property with Drive-Through
    Freestanding NNN Property with Drive-Through

    1290 W Main St, Gaylord, MI 49735

    $3,570,000

    Pharmacy facility leased under an absolute NNN structure.

    View details
    Dollar Tree Drugstore
    Dollar Tree Drugstore

    3753 S Dort Hwy, Flint, MI 48507

    Contact for pricing

    Freestanding retail property with a 2023 prototype retrofit and Double Net lease structure.

    View details

    Cheboygan, MI Drug Stores Market Trends and Statistics

    Explore 1 drug stores for sale in Cheboygan, MI on our real estate platform. These investment opportunities span a total of 14,550 square feet of properties for sale, with an estimated market value of $3,662,000.

    Sale prices for pharmacies in Cheboygan, MI average $3,662,000 — offering options for a variety of budgets and business needs. Daily updated analytics ensure you stay ahead with the latest data and market trends.

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    Top Commercial Asset Segments

    Commercial property segments ranked by active listings on the market

    Storefront properties 4
    Automotive properties 3
    Auto shops 2
    Shopping centers 2
    Drug stores 1

    Demographics Overview

    Population 14K
    Population Growth (5Y) -2.2%
    Median Household Income $60,840
    College Educated 29.7%

    High-Yield Neighborhoods for Investment

    Identify Cheboygan submarkets with the highest inventory density on the market and evaluate the average listing prices of real estate assets

    Neighborhood Average Price
    49721 $3.7M

    Taxes & Financing

    Tax Rate (average for all types) 3.46%
    Tax Rate vs County Average 0.26 pp above county avg
    Average Loan-to-Value 65.0%

    Listings Trend

    New vs delisted commercial listings in Cheboygan County

    New Delisted

    Total CRE Inventory on Market (SF)

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