202 Broad StGlens Falls, NY 12801

Property Details for 202 Broad St

Lot size

0.07 AC

Zone code

GC2

Property type

Investment properties

Property subtype

Live-work space

APN

520500 309.11-5-43.4

APU

520500309115434

Description

This exceptional investment opportunity presents a 14,820 square foot Walgreens located at 202 Broad St, Glens Falls, NY 12801. Built in 2009, this single-story building boasts a highly visible, signalized corner location with multiple points of access, including a drive-thru, curbside pickup, and delivery services. The property features a 25.4-year absolute triple-net (NNN) lease, offering a truly passive investment with zero landlord responsibilities. With 9.5 years remaining on the lease (expiring 05/31/2034), the property offers a compelling 7.13% cap rate and a price per square foot of $404.86. The asking price is $6,000,000. Benefiting from strong medical drivers, the location is situated near Glens Falls Hospital, a 410-bed community hospital with 28 off-campus facilities, as well as other medical providers including Wellnow Urgent Care, Gateway Dermatology, and Adirondack Oral and Maxillofacial Surgery. This is a rare chance to acquire a stable, high-performing retail asset in a desirable location with significant long-term potential.

• CAP approach

  CAP return

  Valuation

  6%

  $786,235

  6.5%

  $725,755

  7%

  $673,916

• Comparable approach

  Method

  Valuation

  Relative Method

  $416,319

  Geo Method

  $413,539

• Alternative Use

  Use

  Valuation

  Residential

  $899,937

  Hospitality

  $824,337

  Educational

  $685,839

  Medical

  $709,426

  Retail

  $1,066,860

Location Insight

City

Glens Falls

County

Warren

State

New York

Latitude

43.3019

Longitude

-73.6621

CBSA code

24020

CBSA name

GLENS FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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