Three-Unit NNN Property
For Sale
Contact for pricing
40-42 First Street, Ilion, NY 14489
The portfolio includes Kinney Drugs and Dunkin locations within a commercial property built in 2006.
Property Size13,350 SF
Price / SF$232.91
Days on Market66
Property Features for 40-42 First Street
General Information
Standard status
Active
Size
13,350 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$233,201
Building Details
Year Built
2006
Units
2
Tenancy
Multi
Listing Agency:
Matthews
Listed By:
Conrad Sarreal · License #CA 01982875
Source:
Crexi
Added: Aug 13
Changed: Oct 10
Last Checked: Oct 16 at 7:56AM
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
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Investment Insights
Based on property information with market context.
This three-unit NNN property portfolio comprises 13,350 square feet at 40-42 First Street in Ilion, New York. The property was constructed in 2006 and includes locations associated with Kinney Drugs and Dunkin.
The offering carries a reported 7.5% cap rate and combines drugstore, restaurant, and coffee-shop uses within one commercial asset. The property is identified as a retail-oriented NNN holding with three units.
The offering carries a reported 7.5% cap rate and combines drugstore, restaurant, and coffee-shop uses within one commercial asset. The property is identified as a retail-oriented NNN holding with three units.
Key Highlights
- Three‑unit NNN property portfolio
- 13,350 SF commercial property
- Kinney Drugs and Dunkin locations
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$177,260
Cap Rate
5.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,545,200
$3.5M
Cap Rate 7%
$2,532,286
$2.5M
Cap Rate 9%
$1,969,556
$2.0M
Market Conditions
NOI Build-Up for 13,350 SF
Gross rent
$246.7K $18.48/SF
− Vacancy
−$10.4K −$0.78/SF
EGI
$236.3K $17.70/SF
− OpEx
−$59.1K −$4.43/SF
NOI
$177.3K $13.28/SF
Area
Wayne County, NY
Vacancy
4.20%
Lease Rate
$18.48 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,545,200
Cap Rate 7%
$2,532,286
Cap Rate 9%
$1,969,556
Alternative Uses
Best Use
Specialty Retail
$2.53M
$2.22M – $2.95M
NOI $177,260 @ 7.0% cap · market cap 5.70%
Second Best
Retail
$1.92M
$1.68M – $2.24M
NOI $134,288 @ 7.0% cap · market cap 4.32%
Theoretical Best
Office A
$3.60M
$3.15M – $4.20M
NOI $251,738 @ 7.0% cap · market cap 8.10%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
332
Businesses Nearby
70k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 40%
Groceries 31%
Dining 27%
Home Improvements & Furnishings 1%
Aldi
Groceries
21,716 visits/mo
0.4 miles
McDonald's
Dining
14,074 visits/mo
0.2 miles
Dollar General
Shops & Services
9,888 visits/mo
0.2 miles
Citgo
Shops & Services
9,331 visits/mo
0.2 miles
Franco's Pizza
Dining
5,197 visits/mo
0.2 miles
Demographics for 14489, NY
7,347
Population
3,065
Households
2.4
Avg Household Size
44
Median Age
19%
College-Educated
83%
High-School Grad
69.6 sq mi
ZIP Area
106
Density / Sq Mi
$67,169
Median Household Income
$36,415
Median Earnings
$966
Median Rent
$101,100
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
Frequently Asked Questions
What type of property is this?
NNN property - The portfolio includes Kinney Drugs and Dunkin locations within a commercial property built in 2006.
Where is this nnn property located?
The property is located at 40-42 First Street Ilion, NY.
What is the asking price?
The asking price for this property is $3,109,333.
What are key features of this property?
This property features: Three‑unit NNN property portfolio; 13,350 SF commercial property; Kinney Drugs and Dunkin locations
