Leased Pharmacy NNN
For Sale
Contact for pricing
40 Hwy 310, Canton, NY 13617
Single-tenant drug store offered for sale with 5 years remaining and renewal options under an absolute NNN lease.
Property Size12,000 SF
Price / SF$250
Days on Market108
Property Features for 40 Hwy 310
General Information
Standard status
Active
Size
12,000 SF
Property subtype
RETAIL
Additional Details
Cap Rate
7%
Listing Agency:
Sutton Real Estate Company - Corporate
(315) 447-8668
Listed By:
Barton K. Feinberg · License #30FE1034180
(315) 447-8668
Source:
Moodyscre
Added: May 6
Changed: Aug 17
Last Checked: Aug 17 at 8:57AM
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 Sutton Real Estate Company - Corporate
Investment Insights
Based on property information with market context.
This leased drug store property is currently occupied by corporate Kinney Drugs under a long-established lease structure described as an absolute NNN arrangement. The location has been operating since 1993, and the current lease term includes approximately 5 years remaining, with additional 4–5 year renewal options.
The property is located at 40 Hwy 310 in Canton, NY, with proximity to major population and employment bases, including minutes from St. Lawrence University and SUNY Canton. Public remarks also note nearby Nobel Urgent Care, retail centers, and surrounding residential neighborhoods, supported by strong day-to-day traffic and access/exposure along the highway.
The property is located at 40 Hwy 310 in Canton, NY, with proximity to major population and employment bases, including minutes from St. Lawrence University and SUNY Canton. Public remarks also note nearby Nobel Urgent Care, retail centers, and surrounding residential neighborhoods, supported by strong day-to-day traffic and access/exposure along the highway.
Key Highlights
- Single‑tenant drug store with 5 years remaining on the current lease
- Includes 4–5 year renewal options
- Absolute NNN lease structure with 7% capitalization rate
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
$186,235
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
6.21%
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%
$3,724,700
$3.7M
Cap Rate 7%
$2,660,500
$2.7M
Cap Rate 9%
$2,069,278
$2.1M
Market Conditions
NOI Build-Up for 12,000 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
$259.2K $21.60/SF
− Vacancy
−$10.9K −$0.91/SF
EGI
$248.3K $20.69/SF
− OpEx
−$62.1K −$5.17/SF
NOI
$186.2K $15.52/SF
Area
St. Lawrence County, NY
Vacancy
4.20%
Lease Rate
$21.60 /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%
$3,724,700
Cap Rate 7%
$2,660,500
Cap Rate 9%
$2,069,278
Alternative Uses
Best Use
Specialty Retail
$2.66M
$2.33M – $3.10M
NOI $186,235 @ 7.0% cap · market cap 6.21%
Second Best
Retail
$2.18M
$1.91M – $2.54M
NOI $152,575 @ 7.0% cap · market cap 5.09%
Theoretical Best
Office A
$2.98M
$2.60M – $3.47M
NOI $208,397 @ 7.0% cap · market cap 6.95%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
191
Businesses Nearby
68k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 62%
Shops & Services 20%
Hotels & Casinos 10%
Home Improvements & Furnishings 7%
McDonald's
Dining
26,251 visits/mo
0.2 miles
Mobil
Shops & Services
10,865 visits/mo
0.3 miles
Burger King
Dining
10,575 visits/mo
0.1 miles
Tim Hortons
Dining
5,640 visits/mo
0.3 miles
Best Western University Inn
Hotels & Casinos
5,509 visits/mo
0.3 miles
Demographics for 13617, NY
12,083
Population
4,645
Households
2.6
Avg Household Size
29
Median Age
36%
College-Educated
93%
High-School Grad
132.5 sq mi
ZIP Area
91
Density / Sq Mi
$72,652
Median Household Income
$26,397
Median Earnings
$901
Median Rent
$148,900
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
- Jonathan M. Kubinski, PHARM — 111 E Main St, Canton, NY 13617
- Price Chopper Pharmacy — 111 E Main St, Canton, NY 13617
- Kiera E. Warner, RPh — 40 NY-310, Canton, NY 13617
- Max Buscaglia — 97 E Main St, Canton, NY 136171445
- Peter Macarthur — 40 NY-310, Canton, NY 136171459
Frequently Asked Questions
What type of property is this?
Drug store - Single-tenant drug store offered for sale with 5 years remaining and renewal options under an absolute NNN lease.
Where is this drug store located?
The property is located at 40 Hwy 310 Canton, NY.
What is the asking price?
The asking price for this property is $3,000,000.
What are key features of this property?
This property features: Single‑tenant drug store with 5 years remaining on the current lease; Includes 4–5 year renewal options; Absolute NNN lease structure with 7% capitalization rate
