Drug Store
Walgreens - High Reported Store Sales Location, Hudson Valley
2084 NY-208, Montgomery, NY 12549
Listing Price: $8,615,385
Investment Overview
Marcus & Millichap is pleased to present Walgreens Montgomery, NY located in the beautiful Hudson Valley approximately 74 miles northwest of the heart of New York City. With over 11-years remaining on the absolute triple net lease, there are three, 5-year options. The 13,011+/- square-foot building is situated on a generous 2.5-acre+/- parcel. Walgreens reports high store sales at this location with consistent year-over-year sales growth over the past six years. Average Household Incomes range from $97K to $110K within one to five miles; there is projected positive annual population growth of 1% per year within 2-miles from 2023 to 2028.
The subject property is located just off Interstate 84 (53,526 vehicles per day) on State Route 208 in close proximity to the Interchange. There are 16,668 vehicles per day past the site. Interstate 84 is the main east west Freeway across the Hudson Valley connecting Scranton, PA with Hartford, CT and the Massachusetts Turnpike.
Montgomery is within the Newburgh Sub-Market and is also known as a distribution hub of New York State. In July, 2023, Tesla announced a planned distribution facility that is projected to employ 300 people. The Newburgh Sub-Market is home to several large freight distribution operations for companies such as Home Depot, Cardinal Health, Con-Way Freight, Fed-Ex, YRC Freight, Staples and Do It Best Corporation. The City of Montgomery is located in Orange County, New York with a population of 404,525 people as of the 2021 United States Census.
Orange County is one of the most attractive areas in the New York metropolitan area offering affordable housing, excellent school systems, a low crime rate, outstanding road, rail and air transportation, minimal congestion, and a wide range of recreational activities offer unique advantages for business and for living. For more information about the area please visit www.ocpartnership.org.
Walgreens - High Reported Store Sales Location, Hudson Valley
Investment Highlights
- Reported Store Sales Over $3.4M and the Most Recent Store Sales Report (2023-2024) Demonstrates Consistent Year over Year Sales Growth at this location
- High Income Area; AHHI Approximately $100,000 in One, Three, and Five-Miles
- Annual Projected Population Growth of One Percent Per Year from 2023-2028 within Two-Miles
- Generous 2.5+/- Acre Parcel Situated at a Fully Signalized Intersection Offering Excellent Ingress and Egress
- The Nearest Walgreens is 12.5+/- Miles from the Subject Property
- Over 11-Years of Base Lease Term Remaining Plus Three, Five-Year Options
- Placer.ai Ranks Walgreens Montgomery in Roughly the Top Third of Walgreens Nationwide and the Top Third of Walgreens in the State of New York for Store Visits
Drug Store
Walgreens - High Reported Store Sales Location, Hudson Valley
Listing Price: $8,615,385
Investment Highlights
- Reported Store Sales Over $3.4M and the Most Recent Store Sales Report (2023-2024) Demonstrates Consistent Year over Year Sales Growth at this location
- High Income Area; AHHI Approximately $100,000 in One, Three, and Five-Miles
- Annual Projected Population Growth of One Percent Per Year from 2023-2028 within Two-Miles
- Generous 2.5+/- Acre Parcel Situated at a Fully Signalized Intersection Offering Excellent Ingress and Egress
- The Nearest Walgreens is 12.5+/- Miles from the Subject Property
- Over 11-Years of Base Lease Term Remaining Plus Three, Five-Year Options
- Placer.ai Ranks Walgreens Montgomery in Roughly the Top Third of Walgreens Nationwide and the Top Third of Walgreens in the State of New York for Store Visits
Investment Overview
Marcus & Millichap is pleased to present Walgreens Montgomery, NY located in the beautiful Hudson Valley approximately 74 miles northwest of the heart of New York City. With over 11-years remaining on the absolute triple net lease, there are three, 5-year options. The 13,011+/- square-foot building is situated on a generous 2.5-acre+/- parcel. Walgreens reports high store sales at this location with consistent year-over-year sales growth over the past six years. Average Household Incomes range from $97K to $110K within one to five miles; there is projected positive annual population growth of 1% per year within 2-miles from 2023 to 2028. The subject property is located just off Interstate 84 (53,526 vehicles per day) on State Route 208 in close proximity to the Interchange. There are 16,668 vehicles per day past the site. Interstate 84 is the main east west Freeway across the Hudson Valley connecting Scranton, PA with Hartford, CT and the Massachusetts Turnpike. Montgomery is within the Newburgh Sub-Market and is also known as a distribution hub of New York State. In July, 2023, Tesla announced a planned distribution facility that is projected to employ 300 people. The Newburgh Sub-Market is home to several large freight distribution operations for companies such as Home Depot, Cardinal Health, Con-Way Freight, Fed-Ex, YRC Freight, Staples and Do It Best Corporation. The City of Montgomery is located in Orange County, New York with a population of 404,525 people as of the 2021 United States Census. Orange County is one of the most attractive areas in the New York metropolitan area offering affordable housing, excellent school systems, a low crime rate, outstanding road, rail and air transportation, minimal congestion, and a wide range of recreational activities offer unique advantages for business and for living. For more information about the area please visit www.ocpartnership.org.
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