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Walgreens | 14+yrs Remain Corp Abs NNN 2 N Park St

11,984 SF Retail Building Cambridge, NY 12816 £2,287,884 (£191/SF) 6.25% Net Initial Yield

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Investment Highlights

Over 14 Years Remaining | Corporate Guaranty | 5% Scheduled Rental Increases | Established Tenant
Strong National/Credit Tenant Presence | Limited Competition | Cambridge Central High School (394 students)

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

Executive Summary

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.

Property Facts

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

11,984 SF

Building Class

Year Built

2008

Price

£2,287,884

Price Per SF

£191

Net Initial Yield

6.25%

NOI

£143,001

Tenancy

Single

Number of Floors

Building FAR

0.28

Lot Size

0.99 AC

Zoning

MU - Main Street Mixed Use

Parking

32 Spaces (2.67 Spaces per 1,000 SF Leased)

Frontage

185 ft on E Main St

Amenities

Signage

Drive Thru

Retailer
99,999 SF
-
Lorem Ipsum
Jan 0000

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.

Tenant	Industry	SF OCCUPIED	RENT/SF	Lease Type		Lease End
	Retailer	99,999 SF	-	Lorem Ipsum		Jan 0000

PROPERTY TAXES

Parcel Number	535001-256-017-0001-024-000-0000	Improvements Assessment	£1,463,260
Land Assessment	£23,395	Total Assessment	£1,486,655

PROPERTY TAXES

Parcel Number

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

Land Assessment

£23,395

Improvements Assessment

£1,463,260

Total Assessment

£1,486,655

(480) 221-4221

Contacts

Patrick Luther
Matthew Mousavi
SRS National Net Lease

Listing ID: 30782531
Date on Market: 25/01/2024
Last Updated:
Address: 2 N Park St, Cambridge, NY 12816

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