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This exceptional investment opportunity presents a fee-simple, Class A, 13,552 square foot Walgreens located at 250 NY-104, Oswego, NY 13126. The property boasts a prime corner location within Oswego's bustling retail corridor, benefiting from high visibility (42,000 vehicles per day) and a convenient drive-thru. Built in 2008, this single-tenant building sits on a 1.97-acre lot and features a 20-year absolute triple net (NNN) lease with Walgreens, a credit-rated tenant backed by a corporate guarantee. The lease, commencing February 1, 2008, and expiring February 1, 2028, has approximately 3.2 years remaining, with six 5-year renewal options including a 10% rent increase in each option period. The current annual net operating income (NOI) is $659,908, resulting in an attractive 8.25% cap rate and a price per square foot of $590.32. The property's strong tenant, excellent location, and lease terms make it an ideal investment for 1031 exchange buyers. Nearby businesses include McDonald's, Walmart, Lowe's, Tractor Supply, and Burger King, further solidifying the area's retail strength. The asking price is $8,000,000.
Highlights
$8,000,000 asking price for a fee-simple, absolute NNN Walgreens.
8.25% cap rate with a strong 3.2-year lease remaining.
13,552 square feet on a 1.97-acre lot, located in a dense retail corridor in Oswego, NY.
Credit-rated tenant with corporate guarantee and built-in rent bumps (10% in each option period).
Excellent visibility and location, with neighboring tenants including McDonald's, Walmart, Lowe's, Tractor Supply, and Burger King.
Property Details
for 250 Ny-104
Property type
Other retail properties, Individual retail properties
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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.
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