Walgreens NNN Investment
2 N Park St Cambridge, NY
2 N Park St, Cambridge, NY, 00000
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For Sale
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NNN Walgreens in Cambridge, NY with over 14 years remaining.
Property Size11,984 SF
Lot Size1.00 Acres
Price / SF$243.99
Days on Market531
Property Features for 2 N Park St
General Information
- Standard status
- Active
- Size
- 11,984 SF
- Lot size
- 1.00 Acres
- Property subtype
- RETAIL
Listing agency
SRS Industrial - Newport Beach
(949) 698-1116
Listed by
Matthew Mousavi · License #CA 01732226
(949) 698-1116
Source
Moodyscre
Added: Feb 7, 2025 Updated: Jul 6 at 9:57AM Checked: Jul 21 at 6:42AM
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 SRS Industrial - Newport Beach
Investment Insights
Based on property information with market context.
This property offers the opportunity to acquire the fee simple interest in a Walgreens investment property located in Cambridge, New York. The property is subject to an absolute NNN lease. The tenant, Walgreen Co., has over 14 years remaining on their initial lease, with 12 (5-year) options to extend. The lease includes 5% rental increases every 5 years throughout the initial term and at the beginning of each option period. The lease is absolute NNN with zero landlord responsibilities. Walgreens operates nearly 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, serving nearly 10 million customers each day. The property contains 11,984 square feet.
Key Highlights
- Absolute NNN lease provides a completely passive investment with zero landlord responsibilities.
- Over 14 years remaining on the initial lease term with Walgreens, ensuring long‑term stable income.
- Benefit from 5% rental increases every 5 years, hedging against inflation and growing NOI.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $258.9k | $21.60 |
| − Vacancy | −$8.3k | −$0.69 |
| EGI | $250.6k | $20.91 |
| − OpEx | −$62.6k | −$5.23 |
| NOI | $187.9k | $15.68 |
11,984 SF · lease $21.60/SF/yr · vacancy 3.20% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$2.68M
$2.35M – $3.13M
NOI $187,928 @ 7.0% cap · market cap 6.43%
Second Best
Retail
$2.14M
$1.87M – $2.49M
NOI $149,478 @ 7.0% cap · market cap 5.11%
Theoretical Best
Office A
$2.97M
$2.60M – $3.47M
NOI $208,119 @ 7.0% cap · market cap 7.12%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Subway
Take-out & Catering
Walgreens Pharmacy
Pharmacy
Walgreens
Pharmacy
Walgreens Photo
(Bike/Boat/Book/etc) Store
FedEx OnSite
Postal Service
Similar For Sale Nearby
Similar Off Market Nearby
- Walgreens Pharmacy — 2 N Park St, Cambridge, NY 12816
- Green Witch Vape Cambridge — 76 W Main St, Cambridge, NY 12816
- Marybeth Brown — 2 N Park St, Cambridge, NY 128161105
- Jason Goodspeed — 2 N Park St, Cambridge, NY 128161105
- David Lester — 2 N Park St, Cambridge, NY 128161105
FAQs
What type of property is this?
Drug store - NNN Walgreens in Cambridge, NY with over 14 years remaining.
Where is this drug store located?
The property is located at 2 N Park St Cambridge, NY.
What is the asking price?
The asking price for this property is $2,924,000.
What are key features of this property?
This property features: Absolute NNN lease provides a completely passive investment with zero landlord responsibilities.; Over 14 years remaining on the initial lease term with Walgreens, ensuring long‑term stable income.; Benefit from 5% rental increases every 5 years, hedging against inflation and growing NOI.
