Freestanding NNN Property with
For Sale
$3,570,000
1290 W Main St, Gaylord, MI 49735
Pharmacy facility leased under an absolute NNN structure.
Property Size14,490 SF
Days on Market161
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Property Features for 1290 W Main St
General Information
Standard status
Active
Size
14,490 SF
Property subtype
Commercial
Lease Term
± 5.75 Years
Net Operating Income
$348,000
Building Details
Building Size
14,490 SF
Year Built
2006
Listing Agency:
Matthews
Listed By:
Grant Klepadlo · License #475.216011 (IL)
(773) 598-8642
Source:
Matthews
Added: May 8
Changed: Oct 14
Last Checked: Oct 14 at 7:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Investment Insights
Based on property information with market context.
Freestanding Walgreens pharmacy building comprising ±14,490 square feet, with an operating drive-thru and an absolute NNN lease structure. The property is located at 1290 W Main St in Gaylord, Michigan 49735.
Key Highlights
- ±14,490 SF freestanding Walgreens pharmacy
- Operating drive‑thru
- Absolute NNN lease structure
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$161,163
Cap Rate
4.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,223,260
$3.2M
Cap Rate 7%
$2,302,329
$2.3M
Cap Rate 9%
$1,790,700
$1.8M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$224.3K $15.48/SF
− Vacancy
−$9.4K −$0.65/SF
EGI
$214.9K $14.83/SF
− OpEx
−$53.7K −$3.71/SF
NOI
$161.2K $11.12/SF
Area
Otsego County, MI
Vacancy
4.20%
Lease Rate
$15.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,223,260
Cap Rate 7%
$2,302,329
Cap Rate 9%
$1,790,700
Alternative Uses
Best Use
Specialty Retail
$2.30M
$2.01M – $2.69M
NOI $161,163 @ 7.0% cap · market cap 4.51%
Second Best
Retail
$2.15M
$1.88M – $2.51M
NOI $150,419 @ 7.0% cap · market cap 4.21%
Theoretical Best
Warehouse
$19.85M
$17.37M – $23.16M
NOI $1,389,301 @ 7.0% cap · market cap 38.92%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
295
Businesses Nearby
383k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 30%
Dining 29%
Home Improvements & Furnishings 14%
Apparel 8%
Hobby Lobby
Shops & Services
28,816 visits/mo
0.3 miles
Culver's
Dining
28,535 visits/mo
0.2 miles
Taco Bell
Dining
24,180 visits/mo
0.1 miles
The Home Depot
Home Improvements & Furnishings
23,006 visits/mo
0.2 miles
Aldi
Groceries
17,276 visits/mo
0.0 miles
Demographics for 49735, MI
20,568
Population
11,551
Households
1.8
Avg Household Size
44
Median Age
27%
College-Educated
94%
High-School Grad
248.6 sq mi
ZIP Area
83
Density / Sq Mi
$69,050
Median Household Income
$39,813
Median Earnings
$876
Median Rent
$200,800
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
NNN property - Pharmacy facility leased under an absolute NNN structure.
Where is this nnn property located?
The property is located at 1290 W Main St Gaylord, MI.
What is the asking price?
The asking price for this property is $3,570,000.
What are key features of this property?
This property features: ±14,490 SF freestanding Walgreens pharmacy; Operating drive‑thru; Absolute NNN lease structure
