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Views: 126 DOM: 601 Updated: 11.02.24 Posted: 05.01.23 Status: Active

Summary

Price $7,442,422
Built/Renov 2005
Tenant Walgreens
Cap Rate 9.25%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 9,179
Lease Start 10-31-2018
#Units 13,532
Price/SF $810.81
Expiration 10-31-2039
Tenant Type Pharmacy
NOI $688,424
R. Term 14.10
Ownership Fee Simple
Rent/SF $75.00
Increases 10.0%/5/yrs
Pop 5Mi 29,225
Lot/AC 2.28
Options 5/5yrs/10%
AHHI 5Mi $100,470

Lease Highlights

  • Tenant has 15 years remaining on their current lease term
  • Lease contains 5 (5-year) options and 1 (3 year and 11-month) option
  • Lease features 10% rent increases with options 1 and 3, and increases at FMV with options 5 and 6
  • Corporate guarantee | Investment grade tenant

Location Description

The 14,564 square foot building benefits from its position along New York Highway 150 which experiences over 13,061 vehicles per day. There are several neighboring tenants including Hannaford Supermarket, Subway, Dunkin’, Trustco Bank, USPS, & NAPA Auto Parts. The property is also adjacent to Sand Lake Elementary School which drives additional traffic through the corridor. There are 29,225...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Walgreens is an American company that operates the second-largest pharmacy store chain in the United States. It specializes in filling prescriptions, health and wellness products, health...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 1,998 8,846 28,415
2023 Total Population : 2,067 9,097 28,949
2023 Employed Civilian Pop : 1,093 4,798 15,001
2023 Total Businesses : 72 187 816
2023 Average Household Income : $ 124,563 $ 133,553 $ 130,106
2023 Total Consumer Spending : $ 86 M $ 419 M $ 1321 M
2023 Median Age : 45 45 47
2023 Total Households : 824 3,719 11,932
2023 Pop Age 25+: Bachelor's Degree : 368 1,650 5,147
2023 Average Home Value : $ 377,635 $ 339,228 $ 323,672
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Grange Rd 2021 11,582 0.37 mi
Taylor Way 2021 377 0.95 mi
State Highway 150 Meeler Rd 2018 3,320 1.09 mi
Mammoth Spring Rd 2021 280 1.23 mi
W Sand Lake Rd Anglers Ct 2001 4,600 1.24 mi
State Highway 150 Ashley Way 2021 3,497 1.27 mi
Peck Road Hwy 43 2021 731 1.33 mi
Old Best Road Best Rd 2021 539 1.36 mi
Reichard Lake Road Reichard Lake Rd 2021 3,804 1.36 mi
State Hwy 150 Edward Dr 2001 3,200 1.44 mi

Listing Broker

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