Walgreens Cheboygan, MI

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Property

Overview

This 14,550 square foot NNN Walgreen’s is located in the prime retail area of Cheyboygan, Michigan. Cheboygan is close to Mackinaw Island, Petoskey, and Charlevoix and is home to some of the best fishing in the country and some of Michigan’s most expensive lodges and vacation homes. The store is located directly on Main Street – Cheboyhan’s primary traffic artery - across the street from the Cheboygan County Government Offices. strategically located at the signalized intersection W 130th Street and Bellaire Road.

The Walgreens features a drive-thru and has excellent visibility and signage. Walgreens has successfully operated at this location since 2007 and has 15 years remaining on their primary lease term with options for 50 years. National retailers located in the area include Walmart Supercenter, Sears, McDonald’s, Burger King, and Pizza Hut.

Walgreens is the largest drug retailing chain in the United States and has over 8,175 locations in the United States. Walgreens is publicly traded on the Nasdaq Stock Market (symbol: WBA) with a market capitalization in excess of $88 billion. Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment grade rated each with a Standard & Poor’s rating of BBB.

Key Facts

  • Property

  • • Average Household Income over $50,000 within 5-miles
  • • 14,550 square feet
  • • Drive-thru
  • • Successfully operated at the property for over 10 years
  • • 15 years remaining on lease-term
  • Walgreen's

  • • Investment grade tenant (S&P BBB)
  • • Publicly traded on the Nasdaq (symbol: WBA)
  • • Market cap in excess of $88 Billion
  • • Growing retailer with pending deal to acquire 2,168 stores from Rite-Aid (RAD)

Address

991 S. Main St.
Cheboygan, MI 49721

Location

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Demographics

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Demos

1 Mile 3 Mile 5 Mile
Population 1,809 6,442 9,313
Households 747 2,699 3,872
Average Household Income $48,549 $49,306 $54,256

Team

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Geoff Ficke

Marcus & Millichap
972.755.5262 geoff.ficke@marcusmillichap.com

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