4357 Ny Highway 150, West Sand Lake, NY 12196
9,179 SF | Retail Building | West Sand Lake, NY 12196 | $7,442,421 ($811/SF) | 9.25% Cap Rate
For Sale
Active
Asking Price $7,442,421
- Property Type
-
Retail
- Square Feet
- 9,179 SF
- Price / Square Foot
- $811
Listing Contacts
Randy Blankstein
John Feeney
Property Overview
The Boulder Group is pleased to exclusively market for sale a single tenant net leased Walgreens property positioned within the Albany MSA in West Sand Lake, New York. The Walgreens lease runs through October 2029 and features five renewal options with rental escalations throughout. The lease is also triple net which presents zero landlord responsibilities. This location operated as a Rite Aid from 2007 until 2018 when Walgreens took over. On average, Walgreens spends in excess of $300,000 when converting locations into their prototype. Lastly, this location features an upgraded façade and drive-thru pharmacy. The 14,564 square foot building benefits from its position along New York Highway 150 which experiences over 13,061 vehicles per day. There are several neighboring tenants including Hannaford Supermarket, Subway, Dunkin’, Trustco Bank, USPS, & NAPA Auto Parts. The property is also adjacent to Sand Lake Elementary School which drive additional traffic through the corridor. There are 29,225 people living within five miles of the property who earn an average annual household income of $121,619. There is limited competition in the area with the nearest CVS over five miles north. Walgreens is included in the Retail Pharmacy USA Division of Walgreens Boots Alliance, Inc., a global leader in retail pharmacy. As America’s most loved pharmacy, health and beauty company, Walgreens purpose is to champion the health and wellbeing of every community in America. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Walgreens pharmacists play a critical role in the U.S. healthcare system by providing a wide range of pharmacy and healthcare services.
Property Details
- Class
- C
- Year Built
- 2005
- Stories
- 1
- Property Subtype
- Drug Store
Highlights
- Positioned within the Albany MSA – Ranked #63 in the United States for population size
- Walgreens is an investment grade rated tenant (S&P: BBB-)
- Drive-thru pharmacy
- Walgreens took over this location from Rite Aid in 2018
- Walgreens spends $300,000+ to convert existing stores to their prototype
- NNN – No landlord responsibilities
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].