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Walgreens 4999 State Highway 30 14,550 SF Retail Building Amsterdam, NY 12010 $4,700,000 ($323.02/SF) 7.34% Cap Rate
Investment Highlights
- Prime Location | Situated along a primary retail corridor anchored by major retailers such as Walmart, Target, Kohl’s, Marshalls, Lowe’s, and More
- LabCorp at Walgreens | The property benefits from an on-site LabCorp patient service center, offering diagnostic and specimen collection services
- Long-Term, Stable Tenant | Walgreens is a widely recognized, established tenant, providing stability and predictability in rental income
- Ancillary Integral Operations | Premier corner location with outstanding visibility directly across from St Mary's Hospital and Memorial Health Center
- Strong Traffic and Market Position | According to Placer.ai, this is the #1 Walgreens location within 10 miles and #4 (4/37) within 50 miles
- Proven Location | Walgreens has operated in this location for over 17 years, demonstrating the strength of the site and its continued success over tim
Executive Summary
The property is prominently positioned at a hard corner along NY State Highway 30, a primary retail corridor with daily traffic counts exceeding 15,000 vehicles. It benefits from excellent visibility, signage, and access, and is surrounded by a strong lineup of national retailers including Walmart, Target, Kohl’s, Marshalls, Lowe’s, and Planet Fitness, as well as leading quick-service restaurant brands. In addition, the location features a LabCorp at Walgreens patient service center, offering convenient diagnostic and specimen collection services. This added healthcare amenity further enhances the property’s foot traffic, positions it as a community healthcare hub, and supports Walgreens’ broader strategy to serve as an integrated health and wellness destination.
According to Placer.ai data, this is the #1 Walgreens location within a 10-mile radius and ranks #4 out of 37 locations within a 50-mile radius, underscoring the site’s high customer traffic and strong market positioning. Walgreens has successfully operated at this location for over 17 years, reflecting the strength and consistency of the real estate.
The lease structure, combined with tenant performance and the property’s proven retail and healthcare fundamentals, offers investors a secure, predictable income stream in a location with lasting appeal.
Property Facts
Amenities
- Pylon Sign
- Signage
- Drive Thru
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
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- Health Care and Social Assistance
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Labcorp began in 1969 as a small clinical laboratory in North Carolina and has grown into a life sciences and healthcare company focused on helping guide health decisions. The company serves patients, healthcare providers, health systems, and biopharma organizations with diagnostic testing, specialty laboratory services, clinical trial testing, real-world data, and commercialization support for therapies. Labcorp also expanded its drug development capabilities through the Covance acquisition, linking laboratory science with research, regulatory support, and development services across its broader business.
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- Retailer
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Walgreens began in Chicago in 1901, after pharmacist Charles R. Walgreen Sr. purchased the drugstore where a pharmacy career began. The company grew from a neighborhood drugstore into a broad retail health business offering prescription services, health and wellness products, photo services, home delivery, specialty pharmacy, and virtual healthcare. Walgreens serves customers through a wide network of community pharmacies and digital platforms, with a focus on accessible medicine, everyday essentials, and healthcare support.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
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Health Care and Social Assistance | - | - | - | ||
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Retailer | - | - | - |
Nearby Major Retailers
Property Taxes
| Parcel Number | 272089-039-000-0005-005-002-0000 | Improvements Assessment | $88,000 |
| Land Assessment | $30,000 | Total Assessment | $118,000 |
Property Taxes
Presented by
Walgreens | 4999 State Highway 30
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