112 New York Rd, Plattsburgh, NY 12903
11,000 SF | Retail Building | Plattsburgh, NY 12903 | $2,367,050 ($215/SF) | 7% Cap Rate
For Sale
Active
Asking Price $2,367,050
- Property Type
-
Retail
- Square Feet
- 11,000 SF
- Price / Square Foot
- $215
Listing Contacts
Mike Sladich
Property Overview
Founded in 1903, Kinney Drugs has built a reputation for providing convenient, innovative, relevant and high quality pharmacy and retail products and services. As the 4th largest chain drug retailer in the United States filling nearly 8 million prescriptions annually, Kinney's pharmacies offer a wide array of professional services in nearly 100 locations across New York and Vermont.
Kinney Drugs has been operating at this location since 2001 and in 2013 extended their lease for twenty (20) years through May 2034, demonstrating their commitment to and success at the site. The Lease also features attractive 1% annual rental escalations throughout the remaining primary term and the six (6), five (5) year renewal options, offering a solid hedge against inflation and an increase in long-term value.
The Property is strategically located in a dense retail corridor featuring numerous shopping centers and standalone retail tenants. Over the past 12 months, Plattsburgh Plaza, Champlin Centre, and Plattsburgh Consumer Square welcomed approximately 11.8 million shoppers to the area. Additionally, Plattsburgh Consumer Square is the most visited shopping center in a 15-mile radius and ranks in the Top 5% of most visited centers in New York as well as nationwide. Surrounding tenants include Walmart, Sam's Club, Lowe's, Target, Dick's Sporting Goods, Hannaford, and many more.
Kinney Drugs has been operating at this location since 2001 and in 2013 extended their lease for twenty (20) years through May 2034, demonstrating their commitment to and success at the site. The Lease also features attractive 1% annual rental escalations throughout the remaining primary term and the six (6), five (5) year renewal options, offering a solid hedge against inflation and an increase in long-term value.
The Property is strategically located in a dense retail corridor featuring numerous shopping centers and standalone retail tenants. Over the past 12 months, Plattsburgh Plaza, Champlin Centre, and Plattsburgh Consumer Square welcomed approximately 11.8 million shoppers to the area. Additionally, Plattsburgh Consumer Square is the most visited shopping center in a 15-mile radius and ranks in the Top 5% of most visited centers in New York as well as nationwide. Surrounding tenants include Walmart, Sam's Club, Lowe's, Target, Dick's Sporting Goods, Hannaford, and many more.
Property Details
- Class
- C
- Year Built
- 2001
- Stories
- 1
- Property Subtype
- Drug Store, Freestanding, Storefront
- Lot Size (sq. ft)
- 117,612 SF
Highlights
- 22-Year Operating History w/ Long Term Lease Extension
- 4th Largest Drug Retailer in the U.S.
- Proximity to Major Economic Driver
- Top 10 Micropolitan "City of the Future" by fDi Magazine
- Globally Recognized Region for Advanced Manufacturing
- Top Shopping Destination for Surrounding Region
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].