Building Details

Year Built 2012

Buildings 1

Tenancy Single

Listing Agency: New England Retail Properties Inc Show Phone

Listed By: Matt Halprin · License #0292130 Show Phone

Source: Moodyscre

Added: Oct 29 Changed: Oct 30 Last Checked: Oct 30 at 3:25PM

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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 New England Retail Properties Inc

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The freestanding Walgreens pharmacy contains 14,737 square feet and has served the community since 2012. The building was constructed as a ground-up development and is offered with a corporate guarantee under an absolute NNN structure.

The property is located at 208 W Rte 59 in Spring Valley, New York.

Key Highlights

• 14,737‑square‑foot freestanding Walgreens pharmacy
• Ground‑up construction dating to 2012
• Corporate‑guaranteed absolute NNN structure

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$682,065

Cap Rate

5.93%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$13,641,300 $13.6M

Cap Rate 7%

$9,743,786 $9.7M

Cap Rate 9%

$7,578,500 $7.6M

Is this asking price fair?

Market Conditions

NOI Build-Up for 14,737 SF

Gross rent

$972.6K $66.00/SF

− Vacancy

−$63.2K −$4.29/SF

EGI

$909.4K $61.71/SF

− OpEx

−$227.4K −$15.43/SF

NOI

$682.1K $46.28/SF

Area

Rockland County, NY

Vacancy

6.50%

Lease Rate

$66.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$13,641,300

Cap Rate 7%

$9,743,786

Cap Rate 9%

$7,578,500

Alternative Uses

Best Use

Specialty Retail

$9.74M

$8.53M – $11.37M (±1% cap)

NOI $682,065 @ 7.0% cap · market cap 5.93%

Second Best

Retail

$2.96M

$2.59M – $3.46M (±1% cap)

NOI $207,535 @ 7.0% cap · market cap 1.80%

Theoretical Best

—

—

same as Best Use

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Walgreens Photo (Bike/Boat/Book/etc) Store Walgreens Pharmacy Pharmacy COVID-19 Drive-Thru Testing ... Pharmacy FedEx OnSite Postal Service LibertyX Bitcoin ATM Atm

Suggested Use

Top Pick Real Estate Agency Spa & Massage Center (Bike/Boat/Book/etc) Store Skin Care Clinic Gym & Fitness Center HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Single-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

1,475

Businesses Nearby

88k

Monthly Visits Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Shops & Services 39% Dining 33% Groceries 27% Electronics 1%

Food Fair Groceries

23,836 visits/mo 0.2 miles

Popeyes Louisiana Kitchen Dining

21,714 visits/mo 0.3 miles

76 Shops & Services

14,427 visits/mo 0.4 miles

AutoZone Shops & Services

6,735 visits/mo 0.1 miles

Mobil Shops & Services

6,588 visits/mo 0.2 miles

Demographics for 10977, NY

71,049

Population

17,339

Households

4.1

Avg Household Size

24

Median Age

23%

College-Educated

77%

High-School Grad

11.3 sq mi

ZIP Area

6,288

Density / Sq Mi

$77,724

Median Household Income

$33,129

Median Earnings

$1,711

Median Rent

$602,300

Median Home Value

Market

Vacancy Rate% for Retail in Northeast region

6% 2019

7.1% 2020

6.5% 2021

6% 2022

5.7% 2023

5.6% 2024

6% 2025

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Frequently Asked Questions

What type of property is this?

Drug store - A freestanding Walgreens pharmacy operates under a corporate-guaranteed absolute NNN structure.

Where is this drug store located?

The property is located at 208 W Rte 59 Spring Valley, NY.

What is the asking price?

The asking price for this property is $11,500,000.

What are key features of this property?

This property features: 14,737‑square‑foot freestanding Walgreens pharmacy; Ground‑up construction dating to 2012; Corporate‑guaranteed absolute NNN structure