1645 Columbia TpkeCastleton-on-Hudson, NY 12033

This exceptional investment opportunity presents a 14,564 square foot Walgreens pharmacy located at 1645 Columbia Turnpike, Castleton-on-Hudson, NY 12033. The property sits on a 1.95-acre lot and boasts a 9.00% cap rate with a strong NOI of $412,161. The current lease, a Net Lease (NN) agreement with a credit-rated tenant, expires March 31, 2027, offering 2.4 years of remaining term and five 5-year renewal options with rent bumps of 5% in option 1 and 10% in options 2-5. The building, constructed in 2000, benefits from a high-traffic location along Columbia Turnpike (12,400 vehicles per day) and proximity to Interstate 90 (36,129 vehicles per day). This location, originally a Rite Aid, was converted by Walgreens in 2018, with Walgreens investing over $300,000 in renovations. The property features a drive-thru pharmacy and enjoys a strong demographic profile, with 28,497 people residing within a five-mile radius, boasting an average annual household income of $120,398. Nearby amenities include Tractor Supply Company, USPS, Curtis Lumber Co., Evergreen Country Club, and two new Amazon Fulfillment Centers less than 1.5 miles away. The asking price is $4,579,567, translating to a price per square foot of $314.44. This is a prime retail investment within the Albany MSA, a highly desirable market. The property's current 100% occupancy and strong sales history make it an attractive addition to any portfolio.