Historical Retail Sale Listing - Walgreens Pharmacy

Retail For Sale

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Walgreens Pharmacy

301 Genesee Street, Auburn, NY 13021

N/A

14,490 SF | Retail

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Retail Property - Off Market

Price:
N/A
Building Size:
14,490 SF
Property Type:
Retail
Property Sub-type:
Free Standing Bldg
Property Use Type:
Net Lease Investment with
10+ years left on lease
Construction Status:
Under Construction/
Proposed
Cap Rate:
7%
Occupancy:
100%
No. Stories:
1
Tenancy:
Single
Year Built:
2008
Lot Size:
1.47 AC
Listing ID
15632764
Last Updated
over 1 year ago

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

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.

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

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