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Walgreens | Corp Abs NNN w/ Incrs 12 Park Dr 13,813 SF Retail Building Hornell, NY 14843 $5,190,000 ($375.73/SF) 6.50% Cap Rate
Investment Highlights
- Recent Lease Extension | Corporate Signed | Rental Increases |Investment Grade Tenant (S&P: BBB)
- Signalized, Hard Corner Intersection | Drive-Thru Equipped | Strong National/Credit Tenants | Hornell Railroad Centre
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Direct Consumer Base | Strong Demographics in 5-Mile Trade Area
Executive Summary
• Corporate Signed by Walgreen Eastern Co. (S&P: BBB)
• Recently extended their lease through March 2034, demonstrating their long-term commitment to the site
• Lease features rental increases in 2025 and 2030, generating NOI and providing a hedge against inflation
• Headquartered in Deerfield, IL, Walgreens operates more than 9,000 stores across all 50 states
• Recently extended their lease through March 2034, demonstrating their long-term commitment to the site
• Lease features rental increases in 2025 and 2030, generating NOI and providing a hedge against inflation
• Headquartered in Deerfield, IL, Walgreens operates more than 9,000 stores across all 50 states
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,813 SF
Building Class
B
Year Built
2004
Price
$5,190,000
Price Per SF
$375.73
Cap Rate
6.50%
NOI
$337,380
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.71 AC
Opportunity Zone
Yes
Zoning
B-2 - General
Parking
67 Spaces (4.85 Spaces per 1,000 SF Leased)
Frontage
372’ on Canisteo Street
Amenities
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
- Monument Signage
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
Walgreens Boots Alliance traces its roots to Walgreens, founded in Chicago in 1901, and later grew through the combination with Alliance Boots into a broader healthcare, pharmacy, and retail business. The company describes itself as an integrated healthcare, pharmacy, and retail leader serving millions of customers and patients every day. Its business spans retail pharmacy, prescription services, health and wellness products, and related healthcare offerings, reflecting a focus on community-based care and access to medicines and services.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Fairly walkable
40/100
Exceptionally drivable
90/100
Limited public transit
20/100
Somewhat bikeable
30/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 460600-166-006-0007-046-101 | Improvements Assessment | $2,141,500 |
| Land Assessment | $126,500 | Total Assessment | $2,268,000 |
Property Taxes
Parcel Number
460600-166-006-0007-046-101
Land Assessment
$126,500
Improvements Assessment
$2,141,500
Total Assessment
$2,268,000
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Walgreens | Corp Abs NNN w/ Incrs | 12 Park Dr
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