1304 Washington Street, Watertown, NY 13601 For Sale

• Established Regional Pharmacy Operator – Kinney Drugs is a trusted, employee-owned pharmacy chain founded in 1903, operating approximately 100 locations throughout New York and Vermont. With more than a century of operating history, the company maintains strong brand recognition and deep community ties across the Northeast.
• Long-Term Lease Stability – Kinney Drugs has occupied the property since its original development and currently has just under eight years remaining on the primary lease term, plus four (4) additional five-year renewal options, providing long-term occupancy visibility.
• Attractive Built-In Rent Growth – The lease features 10% rental increases every five years during the primary term and at the commencement of each renewal option, creating predictable income growth and a strong hedge against inflation.
• Favorable Landlord Responsibilities – Kinney Drugs is responsible for 100% of real estate taxes and insurance and directly manages common area maintenance. Landlord obligations are limited to roof and structural components, providing a low-management investment opportunity.
• Strategic Watertown Location – Positioned within Watertown, the primary retail, healthcare, and commercial hub of Northern New York, serving a broad regional consumer base.
• Strong Economic Drivers – The property benefits from the presence of Fort Drum and the U.S. Army’s 10th Mountain Division, one of the region’s largest employers and economic anchors, supporting a stable population and consumer base.
• High-Traffic Retail Corridor – Located along the Washington Street commercial corridor with nearby traffic counts exceeding 21,000 vehicles per day, providing strong visibility and consumer exposure.
• Established Trade Area – Serves a dense and mature market supported by local residents, military personnel, healthcare users, and regional shoppers drawn to Watertown’s concentration of retail and service providers.
• Defensive Healthcare-Oriented Tenant – Pharmacy and healthcare services generate recurring customer visits and provide resilience across economic cycles, supporting long-term tenant stability.
• Fee Simple Ownership – Offering includes fee simple ownership of both the land and improvements, providing long-term control of a strategically located retail asset.

This offering presents the opportunity to acquire a long-term net-leased Kinney Drugs property located in Watertown, New York, the primary retail, healthcare, and commercial hub serving Northern New York. Occupied by Kinney Drugs since the property's original development, the asset benefits from an established operating history and the stability of a tenant deeply rooted in the region.

Founded in 1903 and operating approximately 100 locations throughout New York and Vermont, Kinney Drugs has built a strong reputation as one of the Northeast's most trusted pharmacy and healthcare providers, supported by its employee-owned business model and longstanding community presence.

The property is secured by a long-term lease with just under eight years remaining on the primary term, plus four additional five-year renewal options, providing investors with significant occupancy visibility and long-term cash flow potential. The lease features attractive 10% rental increases every five years throughout the primary term and at the commencement of each renewal option, creating predictable income growth and a meaningful hedge against inflation. Additionally, the lease structure minimizes landlord responsibilities, with Kinney Drugs responsible for real estate taxes, insurance, and common area maintenance, while ownership is limited to roof and structural obligations.

Strategically positioned along the Washington Street retail corridor, the property benefits from excellent visibility and strong consumer exposure within one of Watertown's primary commercial districts. Nearby traffic counts exceed 21,000 vehicles per day, supporting consistent customer traffic and tenant operations. The location also benefits from the substantial economic influence of Fort Drum, home to the U.S. Army's 10th Mountain Division, which serves as one of the region's largest employers and economic drivers. The military installation supports a stable population base consisting of active-duty personnel, civilian employees, contractors, and their families, providing a reliable source of consumer demand throughout the market.

As a pharmacy and healthcare-oriented retailer, Kinney Drugs benefits from recurring customer visits and demand characteristics that have historically demonstrated resilience across economic cycles. Combined with the property's strategic location, built-in rental growth, favorable lease structure, and the strength of an established regional operator, this offering provides investors with an attractive opportunity to acquire a stable income-producing asset in a proven retail market with long-term fundamentals.