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Drug Store

Walgreens | New Lease Extension

27 Round Lake Rd, Ballston Lake, NY 12019

Listing Price: $5,133,695

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
14,375
Lease Type
Absolute Net
Rent Per Square Feet
$18.75

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Walgreens Pharmacy located at 27 Round Lake Road, Ballston Lake, New York. The site, (Built in 2005), consists of 14,375 total square feet of building space and sits on 7.96 acres of land. The site is subject to a recent lease extension with Walgreens. The initial term of the lease has approximately 10.3 years remaining. Starting in year one, the base rent shall be $269,519. Starting in 2025, the rent shall increase to $276,426 through the remainder of the initial lease term spanning through July 31, 2032. Walgreens will have Five Five-Year Renewal Options with rental escalations (36-Year Total Term). The subject property benefits from being located in the Capital District. Situated in the eastern part of Mid-New York State, the area includes eight counties known for its large, affluent and vibrant economy with economic growth in high tech and knowledge-based industries. The region features over 1.1 million people with a workforce of half a million, providing a strong base of human capital.

Investment Highlights

  • This Former Rite-Aid location remained open following the Walgreens-Rite Aid merger signaling long-term commitment to the location.
  • The Property sits on an oversized parcel spanning nearly eight acres, offering significant value-add potential for the excess land.
  • The Property is located near an exit and entry ramp to Interstate 87, a major highway that runs from New York City through Albany with traffic volumes of over 80,000 vehicles per day.
  • The Capital District houses the intersection for two major interstates (I-87 and I-90), making New York City, Boston, and Montreal only a three-hour drive away.
  • Recent long-term initial lease extension displays strong commitment to the subject site and a continuation of historic performance.
  • The Property is the only nationally branded pharmacy within a five-mile radius, offering unparalleled market share.
  • Absolute Triple Net Lease (NNN) With Zero Landlord Responsibilities.
  • Hard Corner Location With Oversized Lot Off Interstate 87.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Financing By

Drug Store

Walgreens | New Lease Extension

Listing Price: $5,133,695

Cap Rate
5.25%
Tenant Name
Walgreens
Years Remaining On Lease
10.1
Guarantor
Corporate Guarantee
Rentable SF
14,375
Lease Type
Absolute Net
Rent Per Square Feet
$18.75

Investment Highlights

  • This Former Rite-Aid location remained open following the Walgreens-Rite Aid merger signaling long-term commitment to the location.
  • The Property sits on an oversized parcel spanning nearly eight acres, offering significant value-add potential for the excess land.
  • The Property is located near an exit and entry ramp to Interstate 87, a major highway that runs from New York City through Albany with traffic volumes of over 80,000 vehicles per day.
  • The Capital District houses the intersection for two major interstates (I-87 and I-90), making New York City, Boston, and Montreal only a three-hour drive away.
  • Recent long-term initial lease extension displays strong commitment to the subject site and a continuation of historic performance.
  • The Property is the only nationally branded pharmacy within a five-mile radius, offering unparalleled market share.
  • Absolute Triple Net Lease (NNN) With Zero Landlord Responsibilities.
  • Hard Corner Location With Oversized Lot Off Interstate 87.

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for the Walgreens Pharmacy located at 27 Round Lake Road, Ballston Lake, New York. The site, (Built in 2005), consists of 14,375 total square feet of building space and sits on 7.96 acres of land. The site is subject to a recent lease extension with Walgreens. The initial term of the lease has approximately 10.3 years remaining. Starting in year one, the base rent shall be $269,519. Starting in 2025, the rent shall increase to $276,426 through the remainder of the initial lease term spanning through July 31, 2032. Walgreens will have Five Five-Year Renewal Options with rental escalations (36-Year Total Term). The subject property benefits from being located in the Capital District. Situated in the eastern part of Mid-New York State, the area includes eight counties known for its large, affluent and vibrant economy with economic growth in high tech and knowledge-based industries. The region features over 1.1 million people with a workforce of half a million, providing a strong base of human capital.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

Financing By

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