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Kinney Pharmacy 20 Forgham St 11,340 SF Retail Building Lyons, NY 14489 $3,228,726 ($284.72/SF) 7.85% Cap Rate
Investment Highlights
- Century-long tenant — 100% employee-owned Kinney Drugs operating since 1903 across NY and VT
- Overage rent as high as $96,000 annually; underwritten at conservative $73,000 for 2025
- Offered well below replacement cost at approximately $161.58 PSF
- Lyons location ranks in top 6% of all Kinney Drug stores for foot traffic
- Located minutes from Hamilton College, a top-15 nationally ranked liberal arts institution
- 20+ year operating history at each location with renewal options exercised
Executive Summary
Cory Rosenthal
Matthews Real Estate Investment Services, Inc
10311210106, 10991237833 (NY)
575 5th Ave., Ste 2810 New York, NY 10017 (866) 889-0550
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Retailer
- -
- -
- -
Kinney Drugs is a regional pharmacy and retail chain founded in 1903 in Gouverneur, New York. The company operates as part of KPH Healthcare Services and is structured as an employee-owned organization. Its Syracuse-area presence supports a broader network of stores serving communities across New York and Vermont. Over its history, the company has expanded from a single drugstore into a diversified provider of pharmacy, retail, and healthcare-related services. Notable milestones include opening its first distribution center in 1962 and the establishment of the Kinney Drugs Foundation in 2002 to support charitable initiatives. In 2008, the company transitioned to employee ownership through a stock buyback. More recently, Kinney Drugs introduced Ask Burt, an AI-driven virtual assistant designed to help individuals navigate vaccine eligibility guidelines. The company remains privately held through its employee-ownership model.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Retailer | - | - | - |
Property Taxes
| Parcel Number | 542800-070-111-0012-992-551-0000 | Improvements Assessment | $1,438,000 |
| Land Assessment | $62,000 | Total Assessment | $1,500,000 |
Property Taxes
Contact the Sale Advisor
Kinney Pharmacy | 20 Forgham St