99 Chestnut St
Oneonta, NY 13820
Walgreens · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Close Proximity To State University of New York Oneonta and Hartwick College
- Minimal Rx Competition
- New Long-Term Lease with Increases
- Proximity to A.O. Fox Hospital
- Rare Liquor License Site
- Signalized Intersection
EXECUTIVE SUMMARY
Northmarq, as exclusive agent, is proud to offer for sale to qualified investors the opportunity to acquire 99 Chestnut Street, a 12,000 SF single-tenant building located in Oneonta, New York. The property was built-to-suit and is occupied by Walgreens, who has operated at this location since 2009. The absolute NNN lease creates an ideal passive investment opportunity, requiring minimal involvement from the landlord and is guaranteed by Walgreens Corporate through the remaining 9 years of firm lease term.
The property is located in Oneonta, New York - home to over 7,500 students of State University of New York Oneonta and Hartwick College. 1.2 miles from SUNY Oneonta and just under .6 miles from Hartwick College, the property benefits from its close proximity to both campuses and provides a highly valuable and predictable client base every year. This site holds two strategic advantages to other Walgreens. This site is the only Walgreens or CVS found within Oneonta, giving it a leading market share of pharmacy orders in the area. The site also greatly benefits from holding a liquor license, boosting overall site revenue through alcohol sales.
View OM For More Details
The property is located in Oneonta, New York - home to over 7,500 students of State University of New York Oneonta and Hartwick College. 1.2 miles from SUNY Oneonta and just under .6 miles from Hartwick College, the property benefits from its close proximity to both campuses and provides a highly valuable and predictable client base every year. This site holds two strategic advantages to other Walgreens. This site is the only Walgreens or CVS found within Oneonta, giving it a leading market share of pharmacy orders in the area. The site also greatly benefits from holding a liquor license, boosting overall site revenue through alcohol sales.
View OM For More Details
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Drug Store
Building Size
12,000 SF
Building Class
B
Year Built
2009
Price
$7,140,000
Price Per SF
$595
Cap Rate
6.25%
NOI
$446,250
Tenancy
Single
Building Height
1 Story
Building FAR
0.10
Lot Size
2.73 AC
Opportunity Zone
Yes
Parking
60 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
99’ on Chestnut St
PROPERTY TAXES
| Parcel Number | 361200-300-005-0004-017-000-0000 | Improvements Assessment | $1,930,000 |
| Land Assessment | $270,000 | Total Assessment | $2,200,000 |
