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Walgreens - Cheboygan 991 S Main St 14,550 SF Retail Building Cheboygan, MI 49721 $3,855,000 ($264.95/SF) 9.50% Cap Rate
Investment Highlights
- Price Just Reduced to High 9.50% Cap Rate
- High Visibility Signalized Location on Main Street (M-27)
- Freestanding building with Drive-Through
- Absolute Net Lease to February, 2032
- Next to McLaren Medical Center
- Zero Landlord Responsibilities
Executive Summary
Cheboygan is a city in Northern Michigan just 25 miles from Mackinac Bridge and famous Mackinaw Island. The store is located on the primary commercial corridor (over 13k VPD) which is Main St, aka M-27, around a quarter mile from McLaren Medical Center and across the street from Cheboygan County Courthouse. Area retailers include a Walmart Supercenter, Family Fare, Dollar Tree, AutoZone, Advance Auto Parts, Dunham's, Ace Hardware, McDonalds, Arbys, Burger King and many more. Next to Fleetwood Inn on Cheboygan River with quick access to Lake Huron, Mackinaw City, Mackinac Bridge and Mackinac Island.
Property Facts
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 14,550 SF
- $25.17
- Triple Net
- Feb 2032
Walgreens is a major U.S. pharmacy and retail chain founded in 1901 in Chicago, Illinois. The company operates thousands of locations across the United States, providing prescription medications, over-the-counter drugs, health and wellness products, and convenience items. Walgreens also offers services such as immunizations, health screenings, and photo processing. The company has expanded its healthcare offerings through partnerships and in-store clinics, aiming to integrate pharmacy services with broader health solutions. Walgreens is part of Walgreens Boots Alliance, a global pharmacy-led health and wellbeing enterprise.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 14,550 SF | $25.17 | Triple Net | Feb 2032 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 055-006-200-014-01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $1,291,100 |
Property Taxes
Presented by
Walgreens - Cheboygan | 991 S Main St
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