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Drug Store

Walgreens (Rochester)

Walgreens| Strong Store Sales | NNN Lease, Rochester, NY 14622

Listing Price: $5,823,000

Cap Rate
6.75%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
14,805
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.55

Investment Overview

1 MILE FROM ROCHESTER GENERAL HOSP ITAL (528 BEDS)
• Rochester General Hospital is only 1 mile from this Walgreens and has 528 Beds with 745 employees.
• Other nearby hospitals include Rochester Regional Health, Unity Specialty Hospital, Rochester General Health and more.

DENSE RETAIL CORRIDOR | 3.5M SF OF RETAIL IN 1 MILE RADIUS
• Located in a dense retail corridor with 3.5M SF of retail in a 1 mile radius with national tenants including Target, The Home Depot, Walmart and more.
• The subject property is directly across the street from a 192,287 SF Marshalls Anchored Shopping Center.

SUPERIOR DEMOS (5 MILE: 265, 690) & TRAFFIC COUNTS ( 30,124 VPD)
• This Walgreens is located in a dense residential area with 265,690 people in a 5 mile radius.
• Positioned at the signalized intersection of Hwy 241 & Culver Rd with a combined 30,124 VPD.

ROCHESTER | 4TH MOST PO ULOUS CITY IN NY
• Rochester is the 4th most populous city and 10th most populous municipality in NY with an MSA population of 1.09 million.
• Rochester is home to a number of Fortune 1000 and international businesses, including Paychex (Fortune #662), as well as several national and regional companies, such as Carestream Health.
• Tech Valley, the technologically recognized area of eastern New York, has spawned a western offshoot into the Rochester and Finger Lakes areas.
• Home to multiple colleges and universities including the University of Rochester (12,197 Students) and Rochester Institute of Technology (2,515 Students).

7.5 YEAR CORPORATE NNN LEASE
• This is a 14,805 SF Walgreens with a drive thru that has been operating at this location since 2006.
• The subject property has a corporate guaranteed NNN Lease with Walgreens that commenced in May 2006 and expires in May 2031.
• Tenant has options to terminate the lease every 5 years beginning on May 31, 2031 with 6 months’ notice.
• The Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure.

INVESTMENT GRADE TENANT
• Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states.
• Walgreens is publicly traded (WBA: NYSE) with a net worth in excess of $110 billion.
• Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment-grade rated each with a Standard & Poor’s rating of BBB.

Investment Highlights

  • 1 Mile From Rochester General Hospital (528 Beds)
  • Dense Retail Cooridor | 3.5M SF Of Retail In 1 Mile Raduis
  • Rochester | 4th Most Populous City In NY
  • 7.5 Year Corporate NNN Lease
  • Investment Grade Tenant

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (212) 430-5100

    License(s) NY: 10311204479

    New York

Financing By

Listing Price: $5,823,000

Cap Rate
6.75%
Tenant Name
Walgreens
Years Remaining On Lease
7.1
Guarantor
Corporate Guarantee
Rentable SF
14,805
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$26.55

Investment Highlights

  • 1 Mile From Rochester General Hospital (528 Beds)
  • Dense Retail Cooridor | 3.5M SF Of Retail In 1 Mile Raduis
  • Rochester | 4th Most Populous City In NY
  • 7.5 Year Corporate NNN Lease
  • Investment Grade Tenant

Investment Overview

1 MILE FROM ROCHESTER GENERAL HOSP ITAL (528 BEDS) • Rochester General Hospital is only 1 mile from this Walgreens and has 528 Beds with 745 employees. • Other nearby hospitals include Rochester Regional Health, Unity Specialty Hospital, Rochester General Health and more. DENSE RETAIL CORRIDOR | 3.5M SF OF RETAIL IN 1 MILE RADIUS • Located in a dense retail corridor with 3.5M SF of retail in a 1 mile radius with national tenants including Target, The Home Depot, Walmart and more. • The subject property is directly across the street from a 192,287 SF Marshalls Anchored Shopping Center. SUPERIOR DEMOS (5 MILE: 265, 690) & TRAFFIC COUNTS ( 30,124 VPD) • This Walgreens is located in a dense residential area with 265,690 people in a 5 mile radius. • Positioned at the signalized intersection of Hwy 241 & Culver Rd with a combined 30,124 VPD. ROCHESTER | 4TH MOST PO ULOUS CITY IN NY • Rochester is the 4th most populous city and 10th most populous municipality in NY with an MSA population of 1.09 million. • Rochester is home to a number of Fortune 1000 and international businesses, including Paychex (Fortune #662), as well as several national and regional companies, such as Carestream Health. • Tech Valley, the technologically recognized area of eastern New York, has spawned a western offshoot into the Rochester and Finger Lakes areas. • Home to multiple colleges and universities including the University of Rochester (12,197 Students) and Rochester Institute of Technology (2,515 Students). 7.5 YEAR CORPORATE NNN LEASE • This is a 14,805 SF Walgreens with a drive thru that has been operating at this location since 2006. • The subject property has a corporate guaranteed NNN Lease with Walgreens that commenced in May 2006 and expires in May 2031. • Tenant has options to terminate the lease every 5 years beginning on May 31, 2031 with 6 months’ notice. • The Tenant is 100% responsible for all expenses including taxes, insurance, CAM, roof and structure. INVESTMENT GRADE TENANT • Walgreens Boots Alliance is the largest retail pharmacy, health and daily living destination across the U.S. and Europe with 9,277 stores in all 50 states. • Walgreens is publicly traded (WBA: NYSE) with a net worth in excess of $110 billion. • Both Walgreen Co. and Walgreens Boots Alliance, Inc. are investment-grade rated each with a Standard & Poor’s rating of BBB.

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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