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25715508
25715509

82 N Broad St, Norwich, NY 13815

RB
IL IL 471005983
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group
$2,678,544
107 days on market
Updated 107 days ago
Opportunity zone

Walgreens

Details
Property Type Retail
Sub Type Pharmacy/Drug
Square Footage 10,908
Cap Rate 9%
NOI $241,069
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens
Lease Type NN
Lease Expiration 12/07/2028
Remaining Term 2.5
Rent Bumps Yes
Lease Options Two 5-year
Year Built 1998
Acreage 1.420
Investment Type Net Lease
Lease Commencement 09/23/1998

9.00% Cap Rate | Below Replacement Cost | New York

Marketing description

The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property located in Norwich, New York. The tenant has successfully operated at this location as a pharmacy since 1998. The current lease term runs through December 2028 and contains two 5-year renewal options. Additionally, there are rental escalations at the start of each option.

The 10,908-square foot property sits at a signalized intersection on North Broad Street, with over 17,300 vehicles passing daily. It faces minimal competition from national drug store chains in the area. Nearby landmarks include UHS Chenango Memorial Hospital (138 beds), Chenango County Fairgrounds, Norwich High School, and the YMCA. The average household income within a 5-mile radius is $78,218. Neighboring retailers include Grand Union Supermarkets, Dollar Tree, NBT Bank, Mavis, H&R Block, and others.

Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 8,100 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.

Investment highlights

  • Operating successfully as a pharmacy since 1998

  • Price below replacement cost

  • Minimal national drugstore competition in the area

  • Situated on North Broad Street with 17,300 vehicles per day

  • Nearby attractions: UHS Chenango Memorial Hospital (138 beds), Chenango County Fairgrounds, Norwich High School, and YMCA

  • Average household income within 5 miles: $78,218

  • Adjacent retailers: Grand Union Supermarkets, Dollar Tree, NBT Bank, Mavis, H&R Block, and more

Listing Contacts

RB
IL IL 471005983
The Boulder Group
JF
IL 475154756
The Boulder Group
Listed by The Boulder Group

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$241,069.00
$20,089.08/mo

Valuation Metrics

0
DSCR
9%
Cap Rate
9%
ROI

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