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Walgreens | 14+yrs Remain Corp Abs NNN 2 N Park St 11,984 SF Retail Building Cambridge, NY 12816 $4,081,670 CAD ($340.59 CAD/SF) 6.25% Cap Rate

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INVESTMENT HIGHLIGHTS

  • Over 14 Years Remaining | Corporate Guaranty | 5% Scheduled Rental Increases | Established Tenant
  • Strong National/Credit Tenant Presence | Limited Competition | Cambridge Central High School (394 students)
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong Demographics in 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, Walgreens investment property located in Cambridge, New York. The tenant, Walgreen Co., has over 14 years remaining on their initial lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.

PROPERTY FACTS

Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,984 SF
Building Class
B
Year Built
2008
Price
$4,081,670 CAD
Price Per SF
$340.59 CAD
Cap Rate
6.25%
NOI
$255,118 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.28
Lot Size
0.99 AC
Zoning
MU - Main Street Mixed Use
Parking
32 Spaces (2.67 Spaces per 1,000 SF Leased)
Frontage
185’ on E Main St

AMENITIES

  • Signage
  • Drive Thru

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer 99,999 SF - Lorem Ipsum Jan 0000

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
535001-256-017-0001-024-000-0000
Land Assessment
$41,815 CAD
Improvements Assessment
$2,615,354 CAD
Total Assessment
$2,657,169 CAD
  • Listing ID: 30782531

  • Date on Market: 2024-01-25

  • Last Updated:

  • Address: 2 N Park St, Cambridge, NY 12816

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