250 Ny-104Oswego, NY 13126

For Sale
$8,000,000

High-yield, NNN-leased Walgreens

Overview

Added:
Dec 11, 2024
Days on market:
94
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
Square Feet
13,552 SF
Class
A
Year Built
2008
Lot Size (sq. ft)
85,813 SF
Units
1

Location Insight

City
Oswego
County
Oswego
State
New York
Latitude
43.461179056092
Longitude
-76.482752468264
250 Ny-104, Oswego, New York

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250 Ny-104
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