For Sale
$3,481,885

79 North St Cortland, NY 13045

Dryden, NY Pharmacy - High-Yield Investment

Overview

Added:
Dec 11, 2024
Days on market:
137
This exceptional investment opportunity presents a 11,324 square foot Walgreens pharmacy located at 79 North Street, Dryden, NY 13045. The property boasts a strong 7.00% cap rate and a long-term, absolute triple net (NNN) lease with 13.6 years remaining until June 30, 2038. Built in 2018, this single-story building sits on a 2.32-acre lot with 344 feet of frontage on State Route 13, a major retail corridor, ensuring excellent visibility and accessibility. The property's 100% occupancy and franchisee tenant provide exceptional stability. The asking price is $3,481,885, translating to a price per square foot of $307.48. The lease commenced June 8, 2018, and is categorized as a single-tenant, absolute NNN lease. Adjacent to the property is pre-approved land for development of up to 5,700 square feet, including a drive-thru option. The property is zoned for commercial business use. This is a rare opportunity to acquire a high-performing, net-leased Walgreens in a prime retail location.

Highlights

  • 11,324 SF Walgreens pharmacy on 2.32-acre lot in Dryden, NY.
  • 7.00% cap rate with a long-term NNN lease expiring June 30, 2038 (13.6 years remaining).
  • $3,481,885 asking price ($307.48/SF).
  • Located on State Route 13 with 344 feet of frontage.
  • 100% occupancy with a single-tenant, absolute NNN lease.
  • Adjacent land approved for up to 5,700 SF of additional development, including a drive-thru.

Property Details for 79 North St

Property type
Retail properties, Drug stores
Square Feet
11,324 SF
Year Built
2018
Buildings
1
Stories
1
Lot Size (sq. ft)
101,059 SF

Location Insight

City
Cortland
County
Tompkins
State
New York
Latitude
42.497264181667
Longitude
-76.298099288006

FAQs

What type of property is this?
Retail property - Dryden, NY Pharmacy - High-Yield Investment
Where is the retail property located?
The property is located at 79 North St Cortland, NY.
What is the asking price?
The asking price for this property is $3,481,885.
What are key features of this property?
This property features: 11,324 SF Walgreens pharmacy on 2.32-acre lot in Dryden, NY.; 7.00% cap rate with a long-term NNN lease expiring June 30, 2038 (13.6 years remaining).; $3,481,885 asking price ($307.48/SF).
How can I contact the broker?
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79 North St
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