991 S Main St - Drug Store FOR SALE


Cheboygan, MI 49721
$4,070,000 USD
616-566-5790
991 S Main St, Cheboygan, MI for Sale
$4,070,000 USD
Drug Store - FOR SALE
1/3
null | 9% Cap Rate

991 S Main St
Cheboygan, MI 49721


HIGHLIGHTS

  • Absolute Net Lease to February, 2032
  • High Visibility Signalized Location on Main Street (M-27)
  • Next to McLaren Medical Center
  • Freestanding building with Drive-Through
  • Zero Landlord Responsibilities

OVERVIEW

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. 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.

FOR SALE DETAILS

PRICE

$4,070,000 USD

PRICE/SF

$281 USD /SF

CAP RATE

9%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens - Cheboygan

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.84 AC

LAND SF

80,150 SF

ZONING

-

APN/PARCEL ID

055-006-200-014-01

ASK ABOUT THIS PROPERTY

David De MaagdSVN | Investment Property AdvisorsMore Info
616-566-5790

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David De MaagdSVN | Investment Property AdvisorsMore Info
616-566-5790

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.