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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 trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.
| 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
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Walgreens - Cheboygan | 991 S Main St
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