Walgreens 827 Dutchess Tpke 14,742 SF Retail Building Poughkeepsie, NY 12603 $7,500,000 ($508.75/SF) 7% Cap Rate
INVESTMENT HIGHLIGHTS
- 11+ Years Remaining | Options To Extend | Absolute NNN | Corporate Signed Lease | Well-Known & Established Brand
- Direct Residential Consumer Base | Affluent Community |Demographics in 5-Mile Trade Area
- Signalized, Hard Corner Intersection | Centralized Location |Dense Trade Area | Strong Performing Store | Drive-Thru Equipped
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, freestanding, drive-thru equipped, Walgreens investment property located in Poughkeepsie, NY. The tenant, Walgreen Eastern Co., Inc., has over 11 years of firm term remaining with options that can extend the term through 2086. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1901, Walgreens is among the largest pharmacy retailers in the United States with over 8,000 operating locations.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
14,742 SF
Building Class
A
Year Built
2011
Price
$7,500,000
Price Per SF
$508.75
Cap Rate
7%
NOI
$525,000
Tenancy
Single
Building Height
1 Story
Loading Docks
1 Exterior
Building FAR
0.23
Lot Size
1.47 AC
Zoning
B-H - Highway Business
Parking
67 Spaces (4.54 Spaces per 1,000 SF Leased)
Frontage
111’ on Dutchess Tpke
AMENITIES
- Pylon Sign
- Drive Thru
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 134689-6262-04-589067-0000 | Improvements Assessment | $1,591,500 |
| Land Assessment | $448,500 | Total Assessment | $2,040,000 |
