Walgreens | Increasing Sales | 9.75% CAP | Abs. NNN
Absolute NNN Walgreens with Drive-Thru – No Competition for 25+ Miles
Marketing description
Walgreens at 1290 W Main St, Gaylord, MI 49735 presents a compelling net lease investment opportunity in the heart of Northern Michigan’s dominant retail corridor. This freestanding ±14,490 SF pharmacy, built in 2006 on ±1.90 acres, features a drive-thru, 74 parking spaces, multiple access points, and excellent visibility along W Main Street with approximately 29,300 vehicles per day. Positioned just off Interstate 75 at Exit 279, the property benefits from year-round consumer traffic and seasonal tourism flowing through Gaylord, a key regional hub serving surrounding rural communities and visitors traveling to Traverse City, Petoskey, and Mackinac Island. The site is located among major national retailers including Walmart Supercenter, Lowe’s, Starbucks, McDonald’s, Taco Bell, Verizon, Pet Supplies Plus, and Arby’s. Leased to Walgreens on an absolute NNN basis, the asset offers a passive, management-free ownership structure with no landlord responsibilities. With no other Walgreens within approximately 25 miles, this location serves as a primary pharmacy destination in an insulated trade area with limited direct competition—making it an attractive opportunity for investors seeking strong real estate fundamentals and national-credit tenancy
Investment highlights
ABSOLUTE NNN LEASE | DRIVE-THRU PHARMACY: ±14,490 SF freestanding Walgreens with drive-thru operating on an absolute NNN lease, providing a passive, management-free investment.
STRATEGIC I-75 LOCATION | REGIONAL TRAFFIC DRIVER: Located just off Interstate 75 (Exit 279), the primary north–south corridor connecting Detroit to Northern Michigan. Gaylord serves as a key stopover market capturing year-round traffic and seasonal tourism traveling to Traverse City, Petoskey, and Mackinac Island.
HIGH-TRAFFIC RETAIL CORRIDOR (±29,300 VPD): Positioned along W Main Street, the primary commercial corridor serving Gaylord and the surrounding regional trade area.
DOMINANT NATIONAL RETAIL CORRIDOR: Situated within Gaylord’s primary retail node alongside national tenants including Walmart Supercenter, Lowe’s, Starbucks, McDonald’s, Taco Bell, Verizon, Pet Supplies Plus, and Arby’s, driving consistent daily traffic.
LIMITED COMPETITION | PRIMARY PHARMACY PROVIDER: No other Walgreens within approximately 25+ miles, creating a highly insulated trade area and reinforcing the property’s role as the dominant pharmacy provider in the region.
REGIONAL HUB WITH TOURISM-DRIVEN DEMAND: Gaylord serves as a commercial hub for Northern Michigan, drawing from surrounding rural communities and seasonal tourism, significantly expanding the effective trade area.
STRONG REAL ESTATE FUNDAMENTALS: Built in 2006 on approximately ±1.90 acres with ample parking and multiple access points, supporting long-term functionality and site flexibility.
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