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40 State Highway 310 12,142 SF Retail Building Canton, NY 13617 $3,000,000 ($247.08/SF) 7% Cap Rate
Investment Highlights
- Absolute NNN Lease
- Tenant since 4/1993 with current extension to 2031
- 7% CAP Rate
Executive Summary
Property Facts
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Retailer
- 12,000 SF
- $18.03
- Triple Net
- Mar 2031
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 Type | Lease End | |
|
|
Retailer | 12,000 SF | $18.03 | Triple Net | Mar 2031 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 402201-088-036-0004-004-000-0000 | Improvements Assessment | $635,000 |
| Land Assessment | $40,000 | Total Assessment | $675,000 |
Property Taxes
Presented by
40 State Highway 310
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