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Drug Store

Walgreens

12 Park Dr, Hornell, NY 14843

Listing Price: $6,426,267

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.42

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Walgreens located at 12 Park Drive in Hornell,NY. The site constructed in 2004, consists of roughly 13,813 rentable square feet of building space and sits on an approximately 1.71-acre parcel of land. Walgreens is subject to a 23.2-year absolute triple-net (NNN) lease, which commenced on February 24th, 2005. The current annual rent is $337,379 and is scheduled to increase by approximately 2% every 5 years beginning February 2025 as well as during the extended term, if tenant does not exercise their lease termination options.

Investment Highlights

  • Long-Term, 12.1-Year Absolute Triple Net (NNN) Lease With Renewed Option Periods Bringing Lease Term Up to Over 23 Years
  • Highly Visible Store-Front with Drive Thru and a Large Parking Lot
  • Corporate Location, Corporate Guarantee | Built in 2004

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Judson Kauffman

    Licensed Real Estate Salesperson

    (212) 430-5204

    Email Judson

    License(s): NY: 40KA1034273, NY: 10401296108

    Manhattan

Drug Store

Walgreens

Listing Price: $6,426,267

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
11.9
Guarantor
Corporate Guarantee
Rentable SF
13,813
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$24.42

Investment Highlights

  • Long-Term, 12.1-Year Absolute Triple Net (NNN) Lease With Renewed Option Periods Bringing Lease Term Up to Over 23 Years
  • Highly Visible Store-Front with Drive Thru and a Large Parking Lot
  • Corporate Location, Corporate Guarantee | Built in 2004

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for a Walgreens located at 12 Park Drive in Hornell,NY. The site constructed in 2004, consists of roughly 13,813 rentable square feet of building space and sits on an approximately 1.71-acre parcel of land. Walgreens is subject to a 23.2-year absolute triple-net (NNN) lease, which commenced on February 24th, 2005. The current annual rent is $337,379 and is scheduled to increase by approximately 2% every 5 years beginning February 2025 as well as during the extended term, if tenant does not exercise their lease termination options.

Exclusively Listed By

  • Glen D. Kunofsky

    Licensed Associate Real Estate Broker

    (212) 430-5115

    Email Glen

    License(s): NY: 10301203289, NY: 109940808

    Manhattan

  • Judson Kauffman

    Licensed Real Estate Salesperson

    (212) 430-5204

    Email Judson

    License(s): NY: 40KA1034273, NY: 10401296108

    Manhattan

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