This property is Off-Market

301 Genesee Street
Auburn, NY 13021 ·

14,490 SF · Retail For Sale

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Walgreens Pharmacy

Price N/A Cap Rate 7%
Building Size 14,490 SF No. Stories 1
Property Type Retail Tenancy Single
Property Sub-type Free Standing Bldg Year Built 2008
Property Use Type Net Lease Investment with 10+ years left on lease Lot Size 1.47 AC
Construction Status Under Construction/Proposed
Listing ID: 15632764 Date Created: 03/26/2008 Last Updated: 10/19/2015

Description

We are pleased to offer for sale to qualified investors a new Walgreens in Auburn, NY. The property is 100% leased and guaranteed by Walgreens (NYSE: WAG), which holds an A+ rating with Standard and Poor's. As of February 2008, Walgreens had a net worth in excess of $12 billion.

The property is located at the Northeast corner of Genesee & Columbus Street. Auburn is a regional shopping destination, featuring Fingerlakes Mall - the only enclosed shopping alternative within a 30-mile radius.

Highlights

  • Brand-new, freestanding Walgreens store located at a signalized corner
  • Corporate-backed (S&P: A+) lease in place, with a 25-year initial lease term. Fifty years of renewal options thereafter
  • Absolute NNN, with no landlord responsibilities whatsoever
  • Rent Commencement in May 2008
  • Picturesque location in the Finger Lakes region, just 25 miles west of Syracuse
  • Strong-yielding investment opportunity, well suited for institutional or 1031 exchange investors seeking a high quality replacement property

Research

301 Genesee Street, Auburn, NY 13021 (Cayuga County)

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