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Walgreens 3948 State Route 281 14,490 SF Retail Building Cortland, NY 13045 $6,176,875 CAD ($426.29 CAD/SF) 8.75% Cap Rate
Investment Highlights
- 7 Years Remaining | Options To Extend | Termination Options
- Strong Demographics In 5-Mile Trade Area
- NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Executive Summary
• The tenant, Walgreens, has approximately 6 years remaining on their original 25-year lease with 10 (5-year) options to extend, demonstrating their commitment to the site
• This is a high-performing store, with strong sales supporting tenant stability and long-term viability
• This is a high-performing store, with strong sales supporting tenant stability and long-term viability
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,490 SF
Building Class
B
Year Built
2006
Price
$6,176,875 CAD
Price Per SF
$426.29 CAD
Cap Rate
8.75%
NOI
$540,452 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.40 AC
Zoning
C-2
Parking
48 Spaces (3.31 Spaces per 1,000 SF Leased)
Frontage
322’ on New York 281
Amenities
- Corner Lot
- Signage
- Drive Thru
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Not bikeable
10/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 112289-086-013-0001-049-000-0000 | Improvements Assessment | $2,104,033 CAD |
| Land Assessment | $708,715 CAD | Total Assessment | $2,812,748 CAD |
Property Taxes
Parcel Number
112289-086-013-0001-049-000-0000
Land Assessment
$708,715 CAD
Improvements Assessment
$2,104,033 CAD
Total Assessment
$2,812,748 CAD
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Walgreens | 3948 State Route 281
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