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    2100 Ridge Rd Irondequoit, NY 14622

    For Sale
    $4,700,000

    High-Yield Retail Pharmacy in NY

    Property size:
    14,805 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 14,805-square-foot Walgreens located at 2100 East Ridge Road, Irondequoit, NY 14622. The property boasts a strong 7.49% cap rate and a substantial net operating income (NOI) of $352,000. The single-tenant, absolute NNN lease with Walgreens, a credit-rated tenant with a corporate guarantee, provides exceptional security and stability. The lease features approximately 9.9 years remaining, extending to October 31, 2034, with ten 5-year renewal options, including an 11.65% rent increase in the first option and flat increases thereafter. Built in 2005, this one-story building sits on a 1.44-acre lot and includes 67 parking spaces. The property benefits from its prime location on a hard corner at a signalized intersection with high traffic volume, proximity to major roadways (including NY-590), and its placement within a thriving retail corridor featuring numerous national brands and a large hospital. The surrounding area also includes significant educational institutions, further enhancing the property's appeal and long-term viability. This is a rare opportunity to acquire a high-performing, net-leased Walgreens with significant rent growth potential. The asking price is $4,700,000, representing a price per square foot of $317.46. The property's strong tenant, long lease term, and prime location make it an ideal addition to any investment portfolio.

    Property Features for 2100 Ridge Rd

    General Information

    Property type
    Individual retail properties
    Square Feet
    14,805 SF
    Lot Size
    62,726 SF

    Building Details

    Year Built
    2005
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • High‑visibility hard corner location at the signalized intersection of East Ridge Road (17,308 VPD) and Culver Road (11,855 VPD), less than a half‑mile from NY‑590 (48,534 VPD) on‑ramp.
    • Excellent proximity to Rochester General Hospital (528 beds).
    • Strong retail location within Irdondequoit's primary commercial corridor, surrounded by 6.4 MSF of retail, 2.6 MSF of office, and 2.3 MSF of industrial space, plus 6,740 multifamily units within a 3‑mile radius.
    • Beneficial proximity to Ivan Green Primary School and Bishop Kearney High School.
    Property Profile Location Intelligence

    Current Use by Public Records

    Walgreens Photo Passport Photo Processor Walgreens Drug Store Walgreens Pharmacy Pharmacy ATM Atm COVID-19 Drive-Thru Testing ... Pharmacy

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Irondequoit
    County
    Monroe
    State
    New York
    Longitude
    -77.561110916356
    Latitude
    43.203769963414

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    FAQs

    What type of property is this?
    Individual retail property - High-Yield Retail Pharmacy in NY
    Where is this individual retail property located?
    The property is located at 2100 Ridge Rd Irondequoit, NY.
    What is the asking price?
    The asking price for this property is $4,700,000.
    What are key features of this property?
    This property features: High-visibility hard corner location at the signalized intersection of East Ridge Road (17,308 VPD) and Culver Road (11,855 VPD), less than a half-mile from NY-590 (48,534 VPD) on-ramp.; Excellent proximity to Rochester General Hospital (528 beds).; Strong retail location within Irdondequoit's primary commercial corridor, surrounded by 6.4 MSF of retail, 2.6 MSF of office, and 2.3 MSF of industrial space, plus 6,740 multifamily units within a 3-mile radius.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2100 Ridge Rd Irondequoit, NY 14622
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