Drug Store
Walgreens | Absolute Net Lease with 8+ Years Remaining
202 Broad St, Glens Falls, NY 12801
Listing Price: $5,200,000
Cap Rate
8.37%
Tenant Name
Walgreens
Years Remaining On Lease
8.4
Guarantor
Corporate Guarantee
Rentable SF
14,550
Lease Type
Absolute Net
Rent Per Square Feet
$29.90
Investment Overview
We're pleased to present the offering for Walgreens in Glens Falls, New York.
Walgreens | Absolute Net Lease with 8+ Years Remaining
Investment Highlights
- Absolute Net Lease - No Landlord Responsibilities: Tenant Operates Under an Absolute NNN Lease, Resulting in No Landlord Responsibilities. Walgreens is Responsible for Property Taxes, Insurance, etc.
- Eight Plus Years Remaining on Initial 25 Year Lease: Walgreens Executed a 25-Year Corporate Lease which Commenced on 6/1/2008 and has Eight Plus Years Remaining with Fifty One-Year Option Periods
- Global Leader in Healthcare Pharmacy and Retail: Walgreens is a Leading Integrated Healthcare, Pharmacy, and Retail Operator Serving Millions of Customers Across more than 12,500 Locations
- Prime Highway Access and Strong Visibility: The Property Benefits from Proximity to I-87, Exposing it to 44,000+ AADT, while also Fronting Broad Street with Visibility to an Additional 16,000+ AADT - Ensuring Consistent Daily Traffic and Exposure
- Strategic Location Among Leading National and Regional Brands: the Site Benefits from Strong Surrounding Demand Drivers, Including a 2021-Built 72-Unit Apartment Community and a Cluster of National and Regional Retailers. Nearby Anchors Include Hannaford Supermarket - Ranked in the Top 20 Percent of All Locations Statewide (Placer.Ai) - Along with Wellnow Urgent Care, Anytime Fitness, CVS, Verizon, and Additional Daily-Needs Tenants that Enhance Visibility, Traffic, and Long-Term Stability
- Proximity to 391 Bed Glens Falls Hospital: Situated within Close Proximity to Glens Falls Hospital , a 391-Bed Community Hospital that Operates more than 10 Off-Campus Health Care Facilities Throughout The Region.
- Dense and Affluent Demographics: Within A Five-Mile Radius, the Area is Home to more than 72,000 Residents with Average Household Incomes Exceeding $97,000. The Market Further Benefits from Low Unemployment (2.98 Percent within Five Miles), Crime Rates and High Educational Attainment.
Drug Store
Walgreens | Absolute Net Lease with 8+ Years Remaining
Listing Price: $5,200,000
Cap Rate
8.37%
Tenant Name
Walgreens
Years Remaining On Lease
8.4
Guarantor
Corporate Guarantee
Rentable SF
14,550
Lease Type
Absolute Net
Rent Per Square Feet
$29.90
Investment Highlights
- Absolute Net Lease - No Landlord Responsibilities: Tenant Operates Under an Absolute NNN Lease, Resulting in No Landlord Responsibilities. Walgreens is Responsible for Property Taxes, Insurance, etc.
- Eight Plus Years Remaining on Initial 25 Year Lease: Walgreens Executed a 25-Year Corporate Lease which Commenced on 6/1/2008 and has Eight Plus Years Remaining with Fifty One-Year Option Periods
- Global Leader in Healthcare Pharmacy and Retail: Walgreens is a Leading Integrated Healthcare, Pharmacy, and Retail Operator Serving Millions of Customers Across more than 12,500 Locations
- Prime Highway Access and Strong Visibility: The Property Benefits from Proximity to I-87, Exposing it to 44,000+ AADT, while also Fronting Broad Street with Visibility to an Additional 16,000+ AADT - Ensuring Consistent Daily Traffic and Exposure
- Strategic Location Among Leading National and Regional Brands: the Site Benefits from Strong Surrounding Demand Drivers, Including a 2021-Built 72-Unit Apartment Community and a Cluster of National and Regional Retailers. Nearby Anchors Include Hannaford Supermarket - Ranked in the Top 20 Percent of All Locations Statewide (Placer.Ai) - Along with Wellnow Urgent Care, Anytime Fitness, CVS, Verizon, and Additional Daily-Needs Tenants that Enhance Visibility, Traffic, and Long-Term Stability
- Proximity to 391 Bed Glens Falls Hospital: Situated within Close Proximity to Glens Falls Hospital , a 391-Bed Community Hospital that Operates more than 10 Off-Campus Health Care Facilities Throughout The Region.
- Dense and Affluent Demographics: Within A Five-Mile Radius, the Area is Home to more than 72,000 Residents with Average Household Incomes Exceeding $97,000. The Market Further Benefits from Low Unemployment (2.98 Percent within Five Miles), Crime Rates and High Educational Attainment.
Investment Overview
We're pleased to present the offering for Walgreens in Glens Falls, New York.
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