This Retail Property is Off-Market.

10 West Main Street
Smithtown, NY 11787 ·

14,560 SF · Retail For Sale

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Walgreens - Long Island NY

Price N/A Property Use Type Net Lease Investment with 10+ years left on lease
Building Size 14,560 SF Cap Rate 5.55%
Property Type Retail Tenancy Single
Property Sub-type
Free Standing Bldg
More...
  • Retail (Other)
Listing ID: 18117938 Date Created: 04/10/2013 Last Updated: 06/28/2013

Description

This corporate backed Walgreens is a prototype design built to specifications on the North Shore of Long Island in Smithtown, New York. The tenant occupies a 14,560-square foot building situated on a prime site with a drive through pharmacy. Walgreens operates under an absolute-net 75-year lease subject to zero landlord responsibilities, with the highly preferred 10 five-year option periods.

Smithtown is a highly affluent and growing city with a population of over 201,000 within five miles. Smithtown residents have a average household income of nearly $130,000 within a one-mile radius.

Part of the New York Metropolitan Area, Suffolk County is the largest of Long Island's four counties, and the second-largest of 62 in the state of New York, with 1,493,350 people as of the 2010 census.

This Class A site is located on the southeast corner of Main Street (Route 25) and Elm Road with excellent exposure and daily traffic counts exceeding 41,000 vehicles per day. Nearly all lands are heavily developed by either suburban housing communities or commercial locations with a myriad of national retailers. The very reputable Yale University is also located just 60 miles across the Long Island Sound north of Smithtown, New York.

Research

10 West Main Street, Smithtown, NY 11787 (Suffolk County)

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