• An Award Winning Net Lease & Retail Commercial Real Estate Group

Walgreens – 15 Year Absolute NNN Lease

8052 NY-12, Barneveld, NY 13304, USA
$4,870,896

Description

Marcus & Millichap is pleased to present for sale this Net Leased Rite Aid (now backed by Walgreens as of February 2018) located at 8052 State Route 12, Barneveld, New York in Oneida County,
less than an hour drive due East from Syracuse, New York and an hour and a half North West of Albany, New York. There is no direct Walgreen’s competition in the area; the closest Walgreen’s
is 15 miles away in Utica, New York.
The subject property consists of 13,813 square feet situated on a very large 2.5-acre-parcel of land with full service pharmacy drive-thru window and a Rite Aid Wellness Clinic within the store.
This Rite Aid benefits from the strategic location at the signalized intersection of North Gage Road and New York Highway-12 with a traffic count over 11,470 vehicles per day and an above average household income exceeding $91,352, annually. There is no direct Walgreen’s competition in the area; the closest Walgreen’s is 15 miles away in Utica, New York.
There are 15 years remaining on the lease, Absolute Net-Lease (NNN) where the landlord has no responsibilities to the property. The offering provides a flat initial term and three five-year options
with no rent increases. Local retailers include Key Bank, Dunkin’ Donuts and Citgo to name a few.
Walgreens is one of the nations largest leading drugstore chains with over 8,100 stores in 50 states, the District of Columbia, Puerto Rico and the US Virgin Islands, and nearly 235,000 associates. Walgreens also manages more than 400 healthcare clinics and provider practice locations around the country.

  • Corporately Guaranteed by Walgreens
  • BBB Credit Guaranty
  • 15 Years Remaining on the Lease
  • Closest Walgreens is 16 Miles Away
  • Signalized Intersection of N Cage Rd and NY Hwy-12
  • Wellness Clinic Within the Store

Property Documents

  • City: Barneveld
  • State/county: New York
  • Zip/Postal Code: 13304
  • Country: United States

Detail

  • Price: $4,870,896

Additional details

  • CAP Rate: 6.25%
  • NOI: $304,431

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