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Walgreens | 14+yrs Remain Corp Abs NNN 2 N Park St 11,984 SF Retail Building Cambridge, NY 12816 $2,924,000 ($243.99/SF) 6.25% Cap Rate

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INVESTMENT HIGHLIGHTS

Over 14 Years Remaining | Corporate Guaranty | 5% Scheduled Rental Increases | Established Tenant
Strong National/Credit Tenant Presence | Limited Competition | Cambridge Central High School (394 students)

Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
Strong Demographics in 5-Mile Trade Area

EXECUTIVE SUMMARY

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, Walgreens investment property located in Cambridge, New York. The tenant, Walgreen Co., has over 14 years remaining on their initial lease with 12 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. Operating nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving nearly 10 million customers each day.

PROPERTY FACTS

Sale Type

Investment NNN

Property Type

Retail

Property Subtype

Drug Store

Building Size

11,984 SF

Building Class

Year Built

2008

Price

$2,924,000

Price Per SF

$243.99

Cap Rate

6.25%

NOI

$182,760

Tenancy

Single

Building Height

1 Story

Building FAR

0.28

Lot Size

0.99 AC

Zoning

MU - Main Street Mixed Use

Parking

32 Spaces (2.67 Spaces per 1,000 SF Leased)

Frontage

185’ on E Main St

Signage

Drive Thru

Retailer
99,999 SF
-
Lorem Ipsum
Jan 0000

Walgreens, founded by Charles Rudolph Walgreen in 1901 in Chicago, is a major U.S. pharmacy and retail chain operating under the publicly traded parent, Walgreens Boots Alliance (NASDAQ: WBA). Headquartered in Deerfield, Illinois, it provides prescription services, health and wellness products, photo services, and expanded healthcare offerings including immunizations and diagnostic screenings. As of late 2025, the company operated thousands of retail locations across the United States and Puerto Rico, serving roughly 78% of Americans within five miles of a store. Walgreens maintains omnichannel operations—blending in-store, online, drive-thru, and home delivery services—and has strategic healthcare partnerships, notably with VillageMD. Under the direction of new CEO Mike Motz, following the August 2025 purchase by Sycamore Partners, Walgreens continues to emphasize core pharmacy execution, digital innovation, and integrated care solutions.

TENANT	INDUSTRY	SF OCCUPIED	RENT/SF	LEASE TYPE		LEASE END
	Retailer	99,999 SF	-	Lorem Ipsum		Jan 0000

PROPERTY TAXES

Parcel Number	535001-256-017-0001-024-000-0000	Improvements Assessment	$1,870,100
Land Assessment	$29,900	Total Assessment	$1,900,000

PROPERTY TAXES

Parcel Number

535001-256-017-0001-024-000-0000

Land Assessment

$29,900

Improvements Assessment

$1,870,100

Total Assessment

$1,900,000

(480) 221-4221

CONTACTS

Patrick Luther
Matthew Mousavi
SRS National Net Lease

Listing ID: 30782531
Date on Market: 1/25/2024
Last Updated:
Address: 2 N Park St, Cambridge, NY 12816

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