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Cheboygan, MI NNN Properties 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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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.

Traverse City Retail Condominium
Traverse City Retail Condominium

204 E Front St, Traverse City, MI 49684

$924,000
2,000 sqft

Single-tenant retail condo in downtown Traverse City, fully leased.

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New Dollar General Plus Store
New Dollar General Plus Store

10464 Old US Hwy 27 S, Gaylord, MI 49735

Contact for pricing
10,640 sqft

New Dollar General Plus store in Gaylord, Michigan.

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Triple Net Restaurant Portfolio
Triple Net Restaurant Portfolio

1544 US-31, Traverse City, MI 49686

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Three-unit restaurant portfolio offered on a master lease structure with NNN responsibilities and 7+ years remaining.

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Multi-Tenant Retail Strip Center
Multi-Tenant Retail Strip Center

1384 W Main St., Gaylord, MI 49735

Contact for pricing

Nearly-new multi-tenant retail strip center with triple-net tenants and adjacent Panera Bread and ALDI.

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Cheboygan, MI Nnn Properties Market Trends and Statistics

Explore 1 nnn properties 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 triple net lease properties 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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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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