Two-Property Pharmacy
For Sale
Contact for pricing
12 Franklin Avenue, Clinton, NY 13323
Two-property Kinney Pharmacy portfolio is offered for sale with a century-old tenant and 7.71% cap rate.
Property Size27,253 SF
Price / SF$315.74
Days on Market51
Property Features for 12 Franklin Avenue
General Information
Standard status
Active
Size
27,253 SF
Class
B
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$656,656
Additional Details
Cap Rate
7.71%
Building Details
Units
3
Tenancy
Single
Listing Agency:
Matthews
Listed By:
Conrad Sarreal · License #CA 01982875
Source:
Crexi
Added: Jul 8
Changed: Aug 20
Last Checked: Aug 26 at 12:02AM
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 Matthews
Investment Insights
Based on property information with market context.
This offering presents a two-property Kinney Pharmacy portfolio totaling 27,253 square feet, listed for sale and described as available now. The public remarks indicate the portfolio is leased to a tenant operating for a century, and the offering is underwritten at a 7.71% cap rate.
The properties are located at 12 Franklin Avenue in Clinton, New York (13323). Further details on unit layout, building characteristics, frontage, and improvements are not provided in the available information, so buyers should confirm specifics during due diligence.
For investors and brokers underwriting net cash flow, this portfolio’s provided cap rate and long-tenured occupancy are the primary decision points available from the current listing materials.
The properties are located at 12 Franklin Avenue in Clinton, New York (13323). Further details on unit layout, building characteristics, frontage, and improvements are not provided in the available information, so buyers should confirm specifics during due diligence.
For investors and brokers underwriting net cash flow, this portfolio’s provided cap rate and long-tenured occupancy are the primary decision points available from the current listing materials.
Key Highlights
- Two‑property Kinney Pharmacy portfolio for sale
- 7.71% cap rate
- Century‑old tenant
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
$313,906
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
3.65%
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%
$6,278,120
$6.3M
Cap Rate 7%
$4,484,371
$4.5M
Cap Rate 9%
$3,487,844
$3.5M
Market Conditions
NOI Build-Up for 27,253 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
$441.5K $16.20/SF
− Vacancy
−$23.0K −$0.84/SF
EGI
$418.5K $15.36/SF
− OpEx
−$104.6K −$3.84/SF
NOI
$313.9K $11.52/SF
Area
Oneida County, NY
Vacancy
5.20%
Lease Rate
$16.20 /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%
$6,278,120
Cap Rate 7%
$4,484,371
Cap Rate 9%
$3,487,844
Alternative Uses
Best Use
Specialty Retail
$4.48M
$3.92M – $5.23M
NOI $313,906 @ 7.0% cap · market cap 3.65%
Second Best
Retail
$3.92M
$3.43M – $4.57M
NOI $274,138 @ 7.0% cap · market cap 3.19%
Theoretical Best
Office A
$7.18M
$6.28M – $8.38M
NOI $502,720 @ 7.0% cap · market cap 5.84%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
389
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 13323, NY
11,415
Population
4,664
Households
2.4
Avg Household Size
43
Median Age
49%
College-Educated
97%
High-School Grad
38.9 sq mi
ZIP Area
293
Density / Sq Mi
$82,060
Median Household Income
$42,768
Median Earnings
$1,126
Median Rent
$231,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- CVS Pharmacy — 39 Meadow St, Clinton, NY 13323
- Angela M. Jaros, PharmD — 39 Meadow St, Clinton, NY 13323
- Tracy Paciello — 39 Meadow St, Clinton, NY 133231625
- Ann Wilcox — 39 Meadow St, Clinton, NY 133231625
- Kinney Drugs Pharmacy — 12 Franklin Ave, Clinton, NY 13323
Frequently Asked Questions
What type of property is this?
Drug store - Two-property Kinney Pharmacy portfolio is offered for sale with a century-old tenant and 7.71% cap rate.
Where is this drug store located?
The property is located at 12 Franklin Avenue Clinton, NY.
What is the asking price?
The asking price for this property is $8,604,731.
What are key features of this property?
This property features: Two‑property Kinney Pharmacy portfolio for sale; 7.71% cap rate; Century‑old tenant
