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Kinney Pharmacy 12 Franklin Ave 14,070 SF Retail Building Clinton, NY 13323 $3,123,467 CAD ($221.99 CAD/SF) 7.50% Cap Rate
Investment Highlights
- Century-long, 100% employee-owned tenant operating nearly 100 stores across NY and VT
- Overage rent as high as $96,000 annually; underwritten at $73,000 for conservative upside
- Clinton property offered at ~$161.58 PSF, well below replacement cost for single-tenant retail
- Lyons location ranks in the top 6% of all Kinney Drug stores for foot traffic
- Clinton property located minutes from Hamilton College, a top-ranked liberal arts institution
- Both locations with 20+ year operating history; tenants exercised renewal options at each site
Executive Summary
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
- -
- -
- -
Kinney Drugs is a regional pharmacy and retail chain founded in 1903 in Gouverneur, New York. The company operates as part of KPH Healthcare Services and is structured as an employee-owned organization. Its Syracuse-area presence supports a broader network of stores serving communities across New York and Vermont. Over its history, the company has expanded from a single drugstore into a diversified provider of pharmacy, retail, and healthcare-related services. Notable milestones include opening its first distribution center in 1962 and the establishment of the Kinney Drugs Foundation in 2002 to support charitable initiatives. In 2008, the company transitioned to employee ownership through a stock buyback. More recently, Kinney Drugs introduced Ask Burt, an AI-driven virtual assistant designed to help individuals navigate vaccine eligibility guidelines. The company remains privately held through its employee-ownership model.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 337-018-0004-016-000-0000 | Improvements Assessment | $737,230 CAD |
| Land Assessment | $78,546 CAD | Total Assessment | $815,776 CAD |
Property Taxes
Presented by
Kinney Pharmacy | 12 Franklin Ave
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