3948 State Rte 281 Cortland, NY

Listing Agency: SRS Real Estate Partners | New York k***@srsre.com Show Phone

Listed By: Kyle Fant · License #10401281546 Show Phone

Source: Moodyscre

Added: Mar 27, 2025 Changed: Jul 6 Last Checked: Jul 21 at 5:18AM

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Investment Insights

Based on property information with market context.

This retail property is tenanted by Walgreens, who have 7 years remaining on their original 25-year lease. The tenant has 10 options to extend for 5 years each, demonstrating their commitment to the location. The lease specifies no rental increases during the initial term or at the beginning of each option period. The tenant has a termination option every 5 years beginning on 02/29/2032 and every 5 years thereafter. The property has a size of 14490 square feet and is located at 3948 State Rte 281, Cortland, NY.

Key Highlights

• Long‑term tenant (Walgreens) with 7 years remaining on the original 25‑year lease.
• Tenant has 10 (5‑year) options to extend, indicating a strong commitment to the location.
• Tenant has termination options every 5 years beginning 2/29/2032.

Property Analytics

Property Profile Location Intelligence

Current Use

Drug stores

Suggested Use

Top Pick Real Estate Agency Law Firm Parking Lot & Garage Hair Salon Electrical Service HVAC Service

Zoning and permitted uses should be independently verified with authorities.

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Similar Off Market Nearby

• Walgreens Pharmacy — 3948 NY-281, Cortland, NY 13045
• Alyssa R. Duprey, PharmD — 3948 NY-281, Cortland, NY 13045
• COVID-19 Drive-Thru Testing at Walgreens — 3948 NY-281, Cortland, NY 13045
• Mark Roberts — 3948 NY-281, Cortland, NY 130458851
• Victor Nhan Nguyen — 3948 NY-281, Cortland, NY 130458851

Frequently Asked Questions

What type of property is this?

Drug store - Retail property in Cortland, NY with long-term tenant.

Where is this drug store located?

The property is located at 3948 State Rte 281 Cortland, NY.

What is the asking price?

The asking price for this property is $4,343,000.

What are key features of this property?

This property features: Long‑term tenant (Walgreens) with 7 years remaining on the original 25‑year lease.; Tenant has 10 (5‑year) options to extend, indicating a strong commitment to the location.; Tenant has termination options every 5 years beginning 2/29/2032.