NNN Leased Walgreens with
991 S Main St, Cheboygan, MI 49721
Long-term NNN leased Walgreens near McLaren Northern Michigan medical center.
Type:Retail
Property size:
14,550 SFPrice / SF:
$264/SF- Added:
- Nov 21, 2025
- Days on Market:
- 182
- Last Refresh:
- Apr 6 at 12:04 am
Property Features for 991 S Main St
General Information
- Standard status
- Active
- Size
- 14,550 SF
- Property subtype
- Retail
Building Details
- Year Built
- 2007
Listing agent David De Maagd, CPA, MBA (616) 399-3955
Listing office (616) 399-3955
Listing date Nov 21, 2025
Source Svn
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 David De Maagd, CPA, MBA
HighLights
- 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.
- Freestanding building with drive‑thru.
Overview
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
(Bike/Boat/Book/etc) Store
Walgreens
Cosmetic Store
Walgreens Pharmacy
Pharmacy
FedEx OnSite
Postal Service
LibertyX Bitcoin ATM
Atm
Similar Places Nearby
- Walmart Pharmacy — 1150 S Main St, Cheboygan, MI 49721
- Family Fare Pharmacy — 992 S Main St, Cheboygan, MI 49721
- COVID-19 Drive-Thru Testing at Walgreens — 991 S Main St, Cheboygan, MI 49721
- Rechab Towne — 991 S Main St, Cheboygan, MI 497212219
- Heather Garst — 1150 S Main St, Cheboygan, MI 497212223
Location Insight
- Map
- Local Demand
- City
- Cheboygan
- County
- Cheboygan
- State
- Michigan
- Longitude
- -84.4782
- Latitude
- 45.6279
Nearby Similar for Sale
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.
