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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.

    NNN Commercial Condo
    NNN Commercial Condo

    232 E State Street, Traverse City, MI 49684

    $950,000
    2,270 sqft 0.16 AC lot

    Tenant-occupied space carries a 10-year NNN lease with two renewal options.

    View details
    Tenant-Occupied Commercial Condo
    Tenant-Occupied Commercial Condo

    A-232 E State St, Traverse City, MI 49684

    $950,000
    2,270 sqft

    Newly constructed 2,270 SF commercial condo is tenant occupied under a 10-year NNN lease.

    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
    Drive-Through Restaurant Property
    Drive-Through Restaurant Property

    1354 West Main Street, Gaylord, MI 49735

    Contact for pricing

    New construction with high-capacity drive-through infrastructure and a corporate ground lease.

    View details

    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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