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Walgreens | 14+yrs Remain Corp Abs NNN 2 N Park St 11,984 SF Retail Building Cambridge, NY 12816 $4,114,068 CAD ($343.30 CAD/SF) 6.25% Cap Rate
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
Building Size
11,984 SF
Building Class
B
Year Built
2008
Price
$4,114,068 CAD
Price Per SF
$343.30 CAD
Cap Rate
6.25%
NOI
$257,143 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
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 began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
100/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 535001-256-017-0001-024-000-0000 | Improvements Assessment | $2,628,052 CAD |
| Land Assessment | $42,018 CAD | Total Assessment | $2,670,070 CAD |
Property Taxes
Parcel Number
535001-256-017-0001-024-000-0000
Land Assessment
$42,018 CAD
Improvements Assessment
$2,628,052 CAD
Total Assessment
$2,670,070 CAD
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Walgreens | 14+yrs Remain Corp Abs NNN | 2 N Park St
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