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Walgreens: Irondequoit, NY 2100 E Ridge Rd 14,805 SF Retail Building Rochester, NY 14622 $4,700,000 ($317.46/SF) 7.49% Cap Rate
Investment Highlights
- Absolute NNN Lease with Corporate Guaranty
- Hard Corner Site at Signalized Intersection
- Strong annual store-level sales
- Proximate to Rochester General Hospital
- Educational Traffic Drivers
- Options 1-10 NOI: $393,000 gives an investor opportunity to increase unlevered return to 8.35% throughout options
Executive Summary
The CBRE Net Lease Property Group is pleased to offer for sale the 14,805 square-foot Walgreens situated on 1.44 acres in Irondequoit, NY - a component of the Rochester, NY MSA (Population: 1.1M). Walgreens’ absolute NNN lease features a corporate guaranty from Walgreen Co. and was recently extended for an additional 3 years through 2034. The lease currently has ±8.8 years of term remaining and ten, 5-year renewal options.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,805 SF
Building Class
B
Year Built
2005
Price
$4,700,000
Price Per SF
$317.46
Cap Rate
7.49%
NOI
$352,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.24
Lot Size
1.44 AC
Zoning
05
Parking
67 Spaces (4.53 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Drive Thru
- Air Conditioning
Nearby Major Retailers
Property Taxes
| Parcel Number | 263400-077-180-0002-062-100 | Improvements Assessment | $4,877,400 |
| Land Assessment | $837,600 | Total Assessment | $5,715,000 |
Property Taxes
Parcel Number
263400-077-180-0002-062-100
Land Assessment
$837,600
Improvements Assessment
$4,877,400
Total Assessment
$5,715,000
Contacts
-
Christopher Bosworth -
Thomas Carr -
Brian Pfohl -
Jaymes Keenan -
Abby Kelly -
Leah Lindell -
Kaitlyn Wolf -
CBRE, Inc.
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Walgreens: Irondequoit, NY | 2100 E Ridge Rd
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