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991 S Main St Cheboygan, MI 49721

For Sale
$3,855,000

Long-term NNN leased Walgreens near McLaren Northern Michigan medical center.

Property size:
14,550 SF

Property Features for 991 S Main St

General Information

Size
14,550 SF

Building Details

Year built
2007

Source: David De Maagd, CPA, MBA Agent David De Maagd, CPA, MBA

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

NNN Leased Walgreens with Drive-Thru

This is a large, quality build-to-suit Walgreens property with a long-term NNN lease and drive-thru. The property is situated on nearly 2 acres and is located approximately a quarter mile from McLaren Northern Michigan medical center and across from the Cheboygan County Courthouse. The property benefits from a signalized intersection on the primary commercial corridor, South Main Street (M-27), with a traffic volume exceeding 13,000 vehicles per day. Nearby national retailers include a Walmart Supercenter and Family Fare. The property is a freestanding building with a drive-through, guaranteed by Walgreens corporate. The absolute net lease extends to February 2032, with zero landlord responsibilities. The property is located next to Fleetwood Inn on the Cheboygan River, providing quick access to Lake Huron, Mackinaw City, Mackinac Bridge, and Mackinac Island. The location is in Cheboygan, a city in Northern Michigan, approximately 25 miles from the Mackinac Bridge and Mackinac Island. Other area retailers include Dollar Tree, AutoZone, Advance Auto Parts, Dunham's, Ace Hardware, McDonalds, Arbys, and Burger King. There are no CVS Pharmacy, Rite Aid or other Walgreen's competition within 30 miles.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Walgreens Photo Passport Photo Processor Walgreens Cosmetics Store Walgreens Pharmacy Pharmacy FedEx OnSite Mailing Service LibertyX Bitcoin ATM Atm

Suggested Use

Restaurant Realty agency Law Firm Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

Zoning and permitted uses should be independently verified with local authorities.

Similar Places Nearby

Walmart Pharmacy, Family Fare Pharmacy, COVID-19 Drive-Thru Testing at Walgreens, Rechab Towne, Heather Garst

Location Insight

  • Map
  • Local Demand
City
Cheboygan
County
Cheboygan
State
Michigan
Longitude
-84.478174
Latitude
45.627886

FAQs

What type of property is this?
Drug store - Long-term NNN leased Walgreens near McLaren Northern Michigan medical center.
Where is this drug store located?
The property is located at 991 S Main St Cheboygan, MI.
What is the asking price?
The asking price for this property is $3,855,000.
What are key features of this property?
This property features: - 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.
More about this property
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