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Views: 98 DOM: 259 Updated: 07.16.24 Posted: 01.04.24 Status: Active

Summary

Price $2,367,050
Built/Renov 2001
Tenant Kinney Drugs
Cap Rate 7.00%
Lease Type NN+
Guarantor Corporate
Size/SF 11,000
Lease Start 06-01-2001
#Units 100
Price/SF $215.19
Expiration 05-31-2034
Tenant Type Pharmacy
NOI $165,693
R. Term 9.8
Ownership Fee Simple
Rent/SF $15.06
Increases 1.0%/1/yrs
Pop 5Mi 30,863
Lot/AC 2.70
Options 6/5yrs/1%
AHHI 5Mi $75,397

Lease Highlights

  • Kinney Drugs has been operating in this location since 2001
  • Tenant has 10+ years remaining on the current lease term with 6 (5-year) options to extend
  • Lease features 1% annual rental increases throughout the initial term and each option
  • Favorable NN+ lease with landlord responsible for roof and structure
  • Corporate guaranteed lease

Location Description

Kinney Drugs is strategically located on New York Road, near Highway 22, with access to 8,433 vehicles passing by daily. The property is conveniently situated in a densely populated retail corridor featuring numerous shopping centers and standalone retail tenants. Over the past 12 months, Plattsburgh Plaza, Champlin Centre, and Plattsburgh Consumer Square welcomed approximately 11.8 million...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Kinney Drugs
  • Guarantor:Corporate
  • Company:KPH Healthcare Services, Inc.
  • # Units:100
  • Stock:Private

About Tenant

Kinney Drugs is a retail pharmacy that provides high quality pharmacy and retail products and services, and is the 4th largest chain drug retailer in the United States, filling nearly 8 million...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 6,093 23,768 30,755
2023 Total Population : 6,083 23,754 30,863
2023 Employed Civilian Pop : 2,509 10,632 13,653
2023 Total Businesses : 252 1,320 1,653
2023 Average Household Income : $ 65,606 $ 71,036 $ 75,397
2023 Total Consumer Spending : $ 172 M $ 647 M $ 888 M
2023 Median Age : 40 36 38
2023 Total Households : 2,988 10,421 13,498
2023 Pop Age 25+: Bachelor's Degree : 779 3,202 4,087
2023 Average Home Value : $ 186,827 $ 222,040 $ 238,413
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
US Avenue Nevada Oval 2021 9,279 0.27 mi
S Peru St S Acres Rd 2010 2,856 0.32 mi
US Ave 2021 257 0.34 mi
South Peru Street Johnson Ave 2021 2,670 0.35 mi
South Peru Street S Catherine St 2021 4,902 0.50 mi
Sherman St 2021 4,296 0.50 mi
South Platt Street S Platt St 2021 4,482 0.50 mi
State Hwy 22 S Peru St 2011 8,710 0.55 mi
Crete Boulevard S Peru St 2018 7,751 0.57 mi
S Platt St Sherman St 2010 4,456 0.66 mi

Listing Broker

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