2 N Park St - Drug Store FOR SALE


Cambridge, NY 12816
$2,924,000 USD
480-221-4221
2 N Park St, Cambridge, NY for Sale
$2,924,000 USD
Drug Store - FOR SALE
1/8
null | 6.25% Cap Rate

2 N Park St
Cambridge, NY 12816


HIGHLIGHTS

  • Over 14 Years Remaining | Corporate Guaranty | 5% Scheduled Rental Increases | Established Tenant
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Strong National/Credit Tenant Presence | Limited Competition | Cambridge Central High School (394 students)
  • Strong Demographics in 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, Walgreens investment property located in Cambridge, New York. The tenant, Walgreen Co., has over 14 years remaining on their initial lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.

FOR SALE DETAILS

PRICE

$2,924,000 USD

PRICE/SF

$244 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Walgreens | 14+yrs Remain Corp Abs NNN

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Drug Store

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2008

SPRINKLERS

-

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.99 AC

LAND SF

43,124 SF

ZONING

MU

APN/PARCEL ID

535001-256-017-0001-024-000-0000

ASK ABOUT THIS PROPERTY

Patrick LutherSRS National Net LeaseMore Info
480-221-4221

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Patrick LutherSRS National Net LeaseMore Info
480-221-4221

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.