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Drug Store

Walgreens | 3-Unit Portfolio with Assumable Loan | 10% Cash-on-Cash | Available Individually

6189 NY-31, Cicero, NY 13039

Listing Price: $5,109,088

Cap Rate
6.64%
Tenant Name
Walgreens
Gross SF
14,748
Guarantor
Corporate Guarantee
Rentable SF
14,748
Price/Gross SF
$346.43
Lease Type
Absolute Net
Rent Per Square Feet
$22.99

Investment Overview

AVAILABLE INDIVIDUALLY OR AS A 3-UNIT PORTFOLIO WITH AN ASSUMABLE LOAN

Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in a corporate guaranteed Walgreens location in the Cicero submarket of the Syracuse Metropolitan Area of New York.
The property is currently leased to and guaranteed by Walgreens Boots Alliance, an
“essential-use” and recession-resilient tenant. Walgreens is considered “investment grade” credit and is publicly traded on the New York Stock Exchange (NYSE: WAG) Moodys Baa2 / S&P BBB. With over 9 years remaining on an absolute NNN basis with zero landlord responsibilities, this investment opportunity provides stable and reliable long-term cash-flow for many years to come.
Strategically located on Highway-31, this property benefits from 12,842 vehicles passing by per day and has proximity to Freeway-81 with 42,837 vehicles per day. Local demographics include 53,143 people within a five-mile radius with average household income of
$93,939 annually. Nearby tenants include Rite Aid, Circle K, Dunkin', McDonald's, Arby's, Speedway, FedEx, Dollar Tree, and Aldi. The Cicero North Syracuse High School, with 1,879 students, is also located nearby and provides a consistent stream of customers to the store. This property is also available as a part of high-cashflow 3-unit Walgreens portfolio, featuring an assumable loan at 4.7% interest with 5.7+ years remaining until the maturity date. With a Portfolio Cash-on-Cash Return of 10%, it’s an ideal investment opportunity for 1031-exchange buyers seeking to maximize cashflow.

Investment Highlights

  • AVAILABLE INDIVIDUALLY OR AS A 3-UNIT PORTFOLIO WITH AN ASSUMABLE LOAN
  • Portfolio with Assumable Loan of $10.1 Million at 4.7 % Interest Rate (Full Term Interest Only). Equity Requirement of $5,885,000 will Yield a Cash-on-Cash Return of 10%
  • Over 9.2 Years Remaining on Absolute NNN Lease with Zero Landlord Responsibilities
  • Corporate Guarantee with Options Through 2082 - Tenant has Right to Renew every 30 Days During Option Period
  • Essential Use – Pandemic and Recession Resilient Tenant with Drive Thru, FedEx Onsite
  • Situated on Highway-31 with 12,842 Vehicles Per Day Proximity to Freeway-81 with 42,837 Vehicles Per Day
  • Strong Area Demographics –Population of 53,143 People within a Five-Mile Radius with Household Income of $93,939 Annually
  • Nearby Tenants – Cicero North Syracuse High School 1,879 Students, Rite Aid, Circle K, Dunkin' McDonald's, Arby's, Speedway, Fedex, Dollar Tree, Aldi

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Drug Store

Walgreens | 3-Unit Portfolio with Assumable Loan | 10% Cash-on-Cash | Available Individually

Listing Price: $5,109,088

Cap Rate
6.64%
Tenant Name
Walgreens
Gross SF
14,748
Guarantor
Corporate Guarantee
Rentable SF
14,748
Price/Gross SF
$346.43
Lease Type
Absolute Net
Rent Per Square Feet
$22.99

Investment Highlights

  • AVAILABLE INDIVIDUALLY OR AS A 3-UNIT PORTFOLIO WITH AN ASSUMABLE LOAN
  • Portfolio with Assumable Loan of $10.1 Million at 4.7 % Interest Rate (Full Term Interest Only). Equity Requirement of $5,885,000 will Yield a Cash-on-Cash Return of 10%
  • Over 9.2 Years Remaining on Absolute NNN Lease with Zero Landlord Responsibilities
  • Corporate Guarantee with Options Through 2082 - Tenant has Right to Renew every 30 Days During Option Period
  • Essential Use – Pandemic and Recession Resilient Tenant with Drive Thru, FedEx Onsite
  • Situated on Highway-31 with 12,842 Vehicles Per Day Proximity to Freeway-81 with 42,837 Vehicles Per Day
  • Strong Area Demographics –Population of 53,143 People within a Five-Mile Radius with Household Income of $93,939 Annually
  • Nearby Tenants – Cicero North Syracuse High School 1,879 Students, Rite Aid, Circle K, Dunkin' McDonald's, Arby's, Speedway, Fedex, Dollar Tree, Aldi

Investment Overview

AVAILABLE INDIVIDUALLY OR AS A 3-UNIT PORTFOLIO WITH AN ASSUMABLE LOAN Marcus & Millichap is pleased to present the opportunity to acquire the fee-simple interest in a corporate guaranteed Walgreens location in the Cicero submarket of the Syracuse Metropolitan Area of New York. The property is currently leased to and guaranteed by Walgreens Boots Alliance, an “essential-use” and recession-resilient tenant. Walgreens is considered “investment grade” credit and is publicly traded on the New York Stock Exchange (NYSE: WAG) Moodys Baa2 / S&P BBB. With over 9 years remaining on an absolute NNN basis with zero landlord responsibilities, this investment opportunity provides stable and reliable long-term cash-flow for many years to come. Strategically located on Highway-31, this property benefits from 12,842 vehicles passing by per day and has proximity to Freeway-81 with 42,837 vehicles per day. Local demographics include 53,143 people within a five-mile radius with average household income of $93,939 annually. Nearby tenants include Rite Aid, Circle K, Dunkin', McDonald's, Arby's, Speedway, FedEx, Dollar Tree, and Aldi. The Cicero North Syracuse High School, with 1,879 students, is also located nearby and provides a consistent stream of customers to the store. This property is also available as a part of high-cashflow 3-unit Walgreens portfolio, featuring an assumable loan at 4.7% interest with 5.7+ years remaining until the maturity date. With a Portfolio Cash-on-Cash Return of 10%, it’s an ideal investment opportunity for 1031-exchange buyers seeking to maximize cashflow.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s): NY: 10311204479

    New York

Financing By

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