Cheboygan, MI Walgreens

For Sale

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

Building Details

  • For Sale $3,662,000
  • Property Type Retail - Freestanding
  • Property Size 14,550 SF
  • Units 1
  • Lot Size 1.84 Acre
  • Additional Rent Price on request
  • Property Tenancy Single Tenant
  • Year Built 2007
  • Date Updated Sep 17, 2026
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Contacts

David De Maagd, CPA, MBA

SVN | Investment Property Advisors

Location

  • City Cheboygan, MI
  • Neighborhood Cheboygan
  • Zip Code 49721
  • Walk score 50/100 Car-Dependent
  • Bike score 44/100 Somewhat Bikeable
Powered by Walk Score ®

Points of Interest

Mobil

0.04 miles

Holiday

0.11 miles

Marathon

1.16 miles

Speedway

1.27 miles

Public Parking

1.21 miles

Police Parking Only

1.23 miles

Trailhead Parking

4.28 miles

Family Fare

0.17 miles

Walmart Supercenter

0.26 miles

Save-A-Lot

1.54 miles

Hilltop Grocery

7.22 miles

Listing Summary

  • Property Financials

    991 S Main St is currently listed for sale at $3,662,000 for a price per square foot of $251.68.

  • Property Details

    991 S Main St totals 14,550 square feet of Retail space on a lot spanning 1.84 acres. The property was initially built in 2007.

    Tenancy at 991 S Main St is listed as Single Tenant, comprising a total of 1 units.

  • Area Characteristics

    991 S Main St is located in the Cheboygan neighborhood.

    In terms of ease of commuting, the area has a walk score of 50, indicating that it is somewhat walkable.

Contact David De Maagd, CPA, MBA
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