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Walgreens | 14+yrs Remain Corp Abs NNN 2 N Park St 11,984 SF Retail Building Cambridge, NY 12816 $3,989,038 CAD ($332.86 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
$3,989,038 CAD
Price Per SF
$332.86 CAD
Cap Rate
6.25%
NOI
$249,329 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 Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.
| 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 | $2,562,037 CAD |
| Land Assessment | $40,963 CAD | Total Assessment | $2,603,000 CAD |
Property Taxes
Parcel Number
535001-256-017-0001-024-000-0000
Land Assessment
$40,963 CAD
Improvements Assessment
$2,562,037 CAD
Total Assessment
$2,603,000 CAD
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Walgreens | 14+yrs Remain Corp Abs NNN | 2 N Park St
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