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For Sale

Cheboygan, MI Walgreens

991 S Main St, Cheboygan, MI 49721

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.SVN / Investment Property Advisors is pleased to present this large quality build to suit long-term NNN leased Walgreens with drive-thru on nearly 2 acres and just a quarter mile from McLaren Northern Michigan medical center and across from Cheboygan County Courthouse. Located at signalized intersection on primary commercial corridor (S. Main or M-27) with lots of nearby national retail including a Walmart Supercenter and Family Fare across the street. There are no CVS Pharmacy, Rite Aid or other Walgreen's competition within 30 miles.

Key features

  • Absolute Net Lease to February, 2032
  • Freestanding building with Drive-Through
  • High Visibility Signalized Location on Main Street (M-27)
  • Next to McLaren Medical Center
  • Potentially Assumable Loan
  • Price Reduced to High 10.0% Cap Rate
  • Walgreens corporate guaranty
  • Zero Landlord Responsibilities
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

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Contacts

broker
David De Maagd, CPA, MBA

SVN | Investment Property Advisors

Building Details

  • For Sale $3,662,000
  • Property Type Retail - Freestanding
  • Property Size 14,550 SF
  • Units 1
  • Lot Size 1.84 Acre
  • Property Tenancy Single Tenant
  • Year Built 2007
  • Date Updated May 19, 2026

Attachments

  • Property Brochure 1 ()opens in new window

Getting Around

  • Walk Score ®

    Car-Dependent (50)
  • Bike Score ®

    Somewhat Bikeable (44)
Powered by Walk Score ®

Location

  • City Cheboygan, MI
  • Neighborhood Cheboygan
  • Zip Code 49721

Points of Interest

Holiday

0.11 miles

Marathon

1.16 miles

Speedway

1.27 miles

Police Parking Only

1.23 miles

Trailhead Parking

4.28 miles

Walmart Supercenter

0.26 miles

Save-A-Lot

1.54 miles

Hilltop Grocery

7.22 miles

991 S Main St Listing Summary

  • What is the asking price at Cheboygan, MI Walgreens?

    Cheboygan, MI Walgreens is currently listed for sale at Contact for pricing.

  • What is the total size of Cheboygan, MI Walgreens?

    Cheboygan, MI Walgreens has a total of 14,550 square feet.

  • What is the year built for Cheboygan, MI Walgreens?

    The year built for Cheboygan, MI Walgreens is 2007.

Contact Listing Broker
broker
David De Maagd, CPA, MBA

SVN | Investment Property Advisors

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