79 North StCortland, NY 13045

Property Details for 79 North St

Year built

2018

Lot size

2.32 AC

Property size (Sq ft)

11,324 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Cortland

County

Tompkins

State

New York

Latitude

42.4973

Longitude

-76.2981

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