Rite Aid

For Sale

195 M-66 Highway, Charlevoix, MI 49720

This Charlevoix property for sale is located at 195 M-66 Highway. The current listed sale price for Rite Aid is $2,075,180. Rite Aid is situated on a lot that is 7.7 acre in size.

Contacts

broker

Brandon Hanna

Encore Real Estate Investment Services

(248) 702-0290

Property Details

  • Property Type Retail - Street Retail
  • Property Size 11,180 SF
  • Lot Size 7.7 Acre
  • Property Tenancy Single Tenant
  • Year Built 1996
  • Date Updated Dec 25, 2023
Charlevoix is a city in the state of Michigan. Charlevoix is mostly surrounded by Charlevoix Township, but the two are administered autonomously. The town is situated between Lake Michigan and the western end of Lake Charlevoix, which drains into Lake Michigan through the short Round Lake/Pine River complex in the heart of downtown Charlevoix. The Charlevoix South Pier Light Station marks the opening of the channel onto Lake Michigan. Charlevoix's Round Lake has been called the best natural harbor on Lake Michigan. The only way to get from Lake Michigan to East Jordan, Boyne City and other sites on Lake Charlevoix by boat is via Charlevoix. As a result, much commercial, industrial, and recreational boat traffic passes through Charlevoix. The town of Charlevoix has a U.S. Coast Guard station located in its vicinity. Station Charlevoix has served the waters of Lake Charlevoix and Lake Michigan for over one hundred years. The station was first sited in 1898 on the south break wall of the Pine River Channel, leading into Lake Michigan. It was officially commissioned as a United States Lifesaving Service Station July 5, 1900. During the early 1960s, the station was relocated to its present-day location along the Pine River Channel's Lake Charlevoix end. The area of response for Station Charlevoix runs from Cross Village down to Leland, extending into Lake Michigan through Beaver Island and the North and South Fox Islands, and covers numerous inland lakes and waterways. Spring through late fall the 41' UTB and the 25' RB-S are in operation and during the winter months, the 14' ice skiff is put into operation. There is also a U.S. Coast Guard Auxiliary Flotilla based at the Station. Some USCG Auxiliary surface facilities are occasionally moored at Station Charlevoix..

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Highlights

  • Recently Executed 10-Year Extension
  • High Volume Sales w/ 3% Rent to Sale Ratio
  • Successful 25+ Operating History | Outparcel to Grocery Anchored Center
  • 2018 Renovation & Remodel of $150,000 on Interior Pharmacy & Drive Thru
  • Brand New Roof Installed in 2022 with a 20-Year Transferable Warranty
  • Low Rent PSF of $12.80 | $0.75 PSF Rent Increase Every 5 Years
  • NN Lease | Landlord Responsible for Roof and Structure Only
  • Lease is Corporately Guaranteed by Rite Aid, Inc. / S&P “CC” Rated
  • This Rite Aid and the Walgreens Across the Street are the Only Two Major Pharmacies in Town
  • Combined Traffic Counts in Excess of 27,930 Daily
  • Located just Five Minutes from Affluent Downtown Charlevoix | Directly Across the Street from Charlevoix Municipal Airport
  • Charlevoix is a Busy Tourist Town Popular for its Lakes, Beaches, Golf Courses & Attractions | Population Increases Dramatically During Summer Months Due to Tourism and High Number of Vacation/Seasonal Homes

Getting around

  • 51/100

    Walk Score ®

  • 48/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Charlevoix, MI
  • Zip Code 49720

Points of Interest

  • Mobil

    0.14 miles

  • Holiday

    0.27 miles

  • Shell

    0.39 miles

  • Krist

    0.71 miles

  • Tesla Supercharger

    1.23 miles

  • Krist

    1.83 miles

  • Marathon

    8.77 miles

  • RV parking area

    8.90 miles

  • McDonald's

    0.15 miles

  • Burger King

    0.24 miles

  • Flap Jack Restaurant

    0.36 miles

  • Kelsey's Lakeside Grille

    0.40 miles

  • Pizza Hut

    0.41 miles

  • That French Place

    1.04 miles

  • The Bistro

    3.28 miles

  • The Landing

    4.77 miles

  • Friske's Farm Market and Cafe

    8.89 miles

  • Oleson's

    0.86 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Brandon Hanna

Encore Real Estate Investment Services

(248) 702-0290