For Sale
$2,923,076

485 Columbia St Cohoes, NY 12047

15-Year NNN Lease, Strong Tenant

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents a 10,880 square foot CVS Pharmacy located at 485 Columbia St, Cohoes, NY 12047. Boasting a brand new 15-year net lease with a corporate guarantee from CVS Health Corp (BBB/Stable S&P rating), this property offers significant long-term stability. The lease includes two 5-year options with a 10% rent increase at each renewal. The property sits on a desirable 1.1-acre lot at a signalized intersection, benefiting from high visibility and accessibility. With a current NOI of $190,000 and a 6.50% cap rate, this offering presents a compelling return on investment. The property's strategic location is less than half a mile from Cohoes High School, serving a dense population of nearly 150,000 within a 5-mile radius. Built in 2001, this 100% occupied asset offers a low price point per square foot ($268.67) due to replaceable rents, making it an attractive acquisition for discerning investors. The asking price is $2,923,076.

Highlights

  • 15-Year CVS Lease Extension Demonstrates Strong Tenant Commitment
  • 1.1-Acre Site at Signalized Intersection in High-Demand Location
  • Dense Population: 150,000+ Residents Within 5 Miles
  • Attractive Price Point: 15-Year CVS Lease with Below-Market Rent
  • Investment-Grade Tenant: CVS Health Corp. (BBB/Stable S&P Rating)
  • Proximity to Cohoes High School (540+ Students)

Property Details for 485 Columbia St

Property type
Retail properties, Drug stores
Square Feet
10,880 SF
Year Built
2001
Lot Size (sq. ft)
47,916 SF

Location Insight

City
Cohoes
County
Albany
State
New York
Latitude
42.7723428
Longitude
-73.7280243
485 Columbia St, Cohoes, New York

FAQs

What type of property is this?
Retail property - 15-Year NNN Lease, Strong Tenant
Where is the retail property located?
The property is located at 485 Columbia St Cohoes, NY.
What is the asking price?
The asking price for this property is $2,923,076.
What are key features of this property?
This property features: 15-Year CVS Lease Extension Demonstrates Strong Tenant Commitment; 1.1-Acre Site at Signalized Intersection in High-Demand Location; Dense Population: 150,000+ Residents Within 5 Miles
How can I contact the broker?
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485 Columbia St
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