Drugstore with
For Sale
Contact for pricing
1008 Union Center Maine Highway, Endicott, NY 13760
CVS occupies the property under a lease with 9+ years remaining and five five-year renewal options.
Property Size10,125 SF
Price / SF$295.27
Days on Market9
Property Features for 1008 Union Center Maine Highway
General Information
Standard status
Active
Size
10,125 SF
Property subtype
Retail
Additional Details
Drive-Thru
Yes
Building Details
Year Built
2000
Buildings
1
Tenancy
Single
Listing Agency:
Horvath & Tremblay
Listed By:
Matthew Nadler · License #MA 134870
Source:
Crexi
Added: Sep 18
Changed: Sep 24
Last Checked: Sep 26 at 7:02AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Horvath & Tremblay
Investment Insights
Based on property information with market context.
Built in 2000, the 10,125-square-foot drugstore is leased to CVS and includes a dedicated drive-through lane. The tenant recently extended its lease, which has 9+ years remaining and includes five five-year renewal options.
The property fronts NY Route 26, a north-south route connecting Endicott with Union Center and the Town of Maine. Weis Markets, Speedway and West Corners Plaza are immediately adjacent. NY Route 26 also connects toward central Endicott and NY Route 17C, while I-86/NY Route 17 and I-81 provide access to the wider Greater Binghamton region. Nearby schools, employers and healthcare facilities include Union-Endicott High School, BAE Systems, Amphenol and UHS Wilson Medical Center in Johnson City.
The property fronts NY Route 26, a north-south route connecting Endicott with Union Center and the Town of Maine. Weis Markets, Speedway and West Corners Plaza are immediately adjacent. NY Route 26 also connects toward central Endicott and NY Route 17C, while I-86/NY Route 17 and I-81 provide access to the wider Greater Binghamton region. Nearby schools, employers and healthcare facilities include Union-Endicott High School, BAE Systems, Amphenol and UHS Wilson Medical Center in Johnson City.
Key Highlights
- 10,125‑square‑foot building constructed in 2000
- CVS lease has 9+ years remaining, with five (5), five‑year renewal options
- Dedicated drive‑through lane
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$130,947
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.38%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,940
$2.6M
Cap Rate 7%
$1,870,671
$1.9M
Cap Rate 9%
$1,454,967
$1.5M
Market Conditions
NOI Build-Up for 10,125 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$182.3K $18.00/SF
− Vacancy
−$7.7K −$0.76/SF
EGI
$174.6K $17.24/SF
− OpEx
−$43.6K −$4.31/SF
NOI
$130.9K $12.93/SF
Area
Broome County, NY
Vacancy
4.20%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,618,940
Cap Rate 7%
$1,870,671
Cap Rate 9%
$1,454,967
Alternative Uses
Best Use
Specialty Retail
$1.87M
$1.64M – $2.18M
NOI $130,947 @ 7.0% cap · market cap 4.38%
Second Best
Retail
$1.45M
$1.27M – $1.70M
NOI $101,847 @ 7.0% cap · market cap 3.41%
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,835 @ 7.0% cap · market cap 5.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
116
Businesses Nearby
37k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Groceries 66%
Shops & Services 28%
Dining 6%
Weis Markets
Groceries
24,165 visits/mo
0.2 miles
Speedway
Shops & Services
10,351 visits/mo
0.1 miles
SUBWAY
Dining
2,092 visits/mo
0.1 miles
Demographics for 13760, NY
44,153
Population
20,988
Households
2.1
Avg Household Size
44
Median Age
34%
College-Educated
93%
High-School Grad
49.3 sq mi
ZIP Area
896
Density / Sq Mi
$63,242
Median Household Income
$41,939
Median Earnings
$883
Median Rent
$150,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Northeast region
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Similar Off Market Nearby
- BetaExpress, Inc. — 107 Skye Island Dr, Endicott, NY 13760, United States
- CVS Pharmacy — 1008 Union Center Maine Hwy, Endicott, NY 13760, United States
- Rachelle A. Alig, RPH — Endicott, NY 13760
- weis markets pharmacy — 412 Day Hollow Rd, Endicott, NY 13760
- Jessica Link — 412 Day Hollow Rd, Endicott, NY 137602050
Frequently Asked Questions
What type of property is this?
Drug store - CVS occupies the property under a lease with 9+ years remaining and five five-year renewal options.
Where is this drug store located?
The property is located at 1008 Union Center Maine Highway Endicott, NY.
What is the asking price?
The asking price for this property is $2,989,630.
What are key features of this property?
This property features: 10,125‑square‑foot building constructed in 2000; CVS lease has 9+ years remaining, with five (5), five‑year renewal options; Dedicated drive‑through lane
