Listed by The Boulder Group
$5,875,000
Walgreens
Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 14,564
Cap Rate 11.72%
NOI $688,424
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type Absolute NNN
Lease Expiration 10/31/2029
Remaining Term 3.3
Rent Bumps Yes
Lease Options Five 5-year, One 3-year & 11-month
Year Built 2005
Investment Type Net Lease
11.72% Cap Rate | NNN | Albany MSA
Marketing description
• Positioned within the Albany MSA – Ranked #63 in the United States for population size
• Walgreens took over this location from Rite Aid in 2018
• NNN – No landlord responsibilities
• Located along New York Hwy 150 (13,061 VPD)
• 29,100 people live within five miles of the property
• Average household income within a five-mile radius is $140,385
• Neighboring tenants include Hannaford Supermarket, Subway, Dunkin’, Trustco Bank, USPS, & NAPA Auto Parts
• Limited competition in the area – the nearest national competitor pharmacy is located five miles north
Listing Contacts
Listed by The Boulder Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$688,424.00
$57,368.67/mo
Valuation Metrics
0
DSCR
11.72%
Cap Rate
11.72%
ROI
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