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Walgreens | Corp Abs NNN w/ Incrs 12 Park Dr

13,813 SF Retail Building Hornell, NY 14843 £4,071,088 (£295/SF) 6.50% Net Initial Yield

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Investment Highlights

Recent Lease Extension | Corporate Signed | Rental Increases |Investment Grade Tenant (S&P: BBB)
Signalized, Hard Corner Intersection | Drive-Thru Equipped | Strong National/Credit Tenants | Hornell Railroad Centre

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Direct Consumer Base | Strong Demographics in 5-Mile Trade Area

Executive Summary

• Corporate Signed by Walgreen Eastern Co. (S&P: BBB)
• Recently extended their lease through March 2034, demonstrating their long-term commitment to the site
• Lease features rental increases in 2025 and 2030, generating NOI and providing a hedge against inflation
• Headquartered in Deerfield, IL, Walgreens operates more than 9,000 stores across all 50 states

Hornell NY - Walgreens - OM

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

13,813 SF

Building Class

Year Built

2004

Price

£4,071,088

Price Per SF

£295

Net Initial Yield

6.50%

NOI

£264,644

Tenancy

Single

Number of Floors

Building FAR

0.19

Land Acres

1.71 AC

Opportunity Zone

Yes

Zoning

B-2 - General

Parking

67 Spaces (4.85 Spaces per 1,000 SF Leased)

Amenities

Corner Lot
Signage

Signalised Intersection

Drive Thru

Monument Signage

Retailer
99,999 SF
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Walgreens is a trusted and convenient local health destination that millions of Americans rely on every day. Their founder, Charles R. Walgreen Sr., was known for finding new ways to connect with customers on a personal level and treating each person like a guest in his own home. For over a century, they have expanded that personal connection through their network of neighborhood pharmacies and their innovative health services and products. The foundation for all of this is their trusted pharmacy expertise, and their team members who provide essential care that helps people achieve better health outcomes at an affordable cost.