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Views: 157 DOM: 279 Updated: 10.15.24 Posted: 02.16.24 Status: Active

Summary

Price $5,190,000
Built/Renov 2004
Tenant Walgreens
Cap Rate 6.50%
Lease Type Abs NNN
Guarantor Corp T and Rated
Size/SF 13,813
Lease Start 02-24-2005
#Units 13,532
Price/SF $375.73
Expiration 03-31-2034
Tenant Type Pharmacy
NOI $337,380
R. Term 9.4
Ownership Fee Simple
Rent/SF $24.42
Increases 2.1%/1/yrs
Pop 5Mi 15,055
Lot/AC 1.71
Options 3/5yrs/1.97%
AHHI 5Mi $68,983

Lease Highlights

  • Walgreens has been operating in this location since 2004
  • The tenant has 9+ years remaining on the current lease term with 2 (5-year) and 1 (16-month) options to extend
  • The lease features fluctuating rental increases throughout the initial term and each option period
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guarantee | Investment grade tenant

Location Description

Walgreen is strategically located at the signalized, hard corner intersection of State Highway 36 and Park Drive, with access to a combined daily traffic count of 20,100 vehicles. The property benefits from a large monument sign, creating excellent visibility along both cross streets. Additionally, it is ideally situated as an outparcel to Hornell Railroad Centre, a shopping center anchored by...

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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 : 7,752 10,108 14,823
2023 Total Population : 7,848 10,247 15,055
2023 Employed Civilian Pop : 2,933 3,866 5,888
2023 Total Businesses : 278 431 566
2023 Average Household Income : $ 59,288 $ 63,167 $ 68,983
2023 Total Consumer Spending : $ 180 M $ 248 M $ 396 M
2023 Median Age : 38 41 42
2023 Total Households : 3,450 4,484 6,513
2023 Pop Age 25+: Bachelor's Degree : 450 732 1,219
2023 Average Home Value : $ 121,596 $ 140,183 $ 146,795
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Maple City Drive N 2018 13,476 0.07 mi
Center St 2021 4,824 0.09 mi
Maple City Drive N 2018 9,105 0.13 mi
Grand St 2021 388 0.13 mi
Canisteo St 2021 1,393 0.17 mi
Crosby St 2021 341 0.20 mi
NY 36 Canisteo St 2021 15,580 0.21 mi
Elm St 2021 560 0.22 mi
O'Connor Ave 2021 719 0.23 mi
Elm Street Center Aly 2021 3,915 0.25 mi

Listing Broker

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