Please check your inbox to complete the process.
Just click on the link in that email to complete your Sign up.
If you don’t see it, you may need to check your spam folder.
Email verification link expired
It seems that the verification link has expired.
No worries! We can send you a new link to email
Log In
Don't have an account?
Reset your password
New to PT Realty?
PT Realty
Reset your password
Enter the email address associated with your account and we'll send you a link to reset your password.
Check your email
We've resent password reset instructions to if it is an email on file.
Thanks! If matches an email we have on file, then we've sent you an email containing further instructions for resetting your password.
If you haven't received an email in 5 minutes, check your spam, resend, or try a different email.
This exceptional investment opportunity presents a 14,564 square foot Walgreens pharmacy located at 1645 Columbia Turnpike, Castleton-on-Hudson, NY 12033. The property sits on a 1.95-acre lot and boasts a 9.00% cap rate with a strong NOI of $412,161. The current lease, a Net Lease (NN) agreement with a credit-rated tenant, expires March 31, 2027, offering 2.4 years of remaining term and five 5-year renewal options with rent bumps of 5% in option 1 and 10% in options 2-5. The building, constructed in 2000, benefits from a high-traffic location along Columbia Turnpike (12,400 vehicles per day) and proximity to Interstate 90 (36,129 vehicles per day). This location, originally a Rite Aid, was converted by Walgreens in 2018, with Walgreens investing over $300,000 in renovations. The property features a drive-thru pharmacy and enjoys a strong demographic profile, with 28,497 people residing within a five-mile radius, boasting an average annual household income of $120,398. Nearby amenities include Tractor Supply Company, USPS, Curtis Lumber Co., Evergreen Country Club, and two new Amazon Fulfillment Centers less than 1.5 miles away. The asking price is $4,579,567, translating to a price per square foot of $314.44. This is a prime retail investment within the Albany MSA, a highly desirable market. The property's current 100% occupancy and strong sales history make it an attractive addition to any portfolio.
Highlights
Albany MSA location, ranked #63 in US population.
Investment-grade tenant (Walgreens, S&P: BBB-).
Drive-thru pharmacy.
Walgreens renovated existing store in 2018.
Walgreens invested over $300,000 in renovations.
High-traffic location on Columbia Turnpike (12,400 VPD).
Property Details
for 1645 Columbia Tpke
Property type
Other retail properties, Individual retail properties
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.
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].
1645 Columbia Tpke, Castleton-on-Hudson, New York, 12033
Message sent successfully
Error
Email this Information
Message sent successfully
Error
Disclaimer
The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
We do not guarantee the accuracy, reliability, or completeness of these estimates, as market conditions, property features, and other factors may affect actual property values. Users should conduct their own due diligence and consult with a real estate professional before making financial or investment decisions.
By using this service, you acknowledge and accept that all estimates are provided for informational purposes only and that this website assumes no liability for any reliance on the provided valuations.