Walgreens in Irondequoit,
2100 East Ridge Road Irondequoit, NY 14622
2100 East Ridge Road, Irondequoit, NY, 14622
Contact for pricing
For Sale
Contact for pricing
14,805 SF Walgreens on 1.44 AC for sale.
Property Size14,805 SF
Lot Size1.44 Acres
Price / SF$317.46
Days on Market770
Property Features for 2100 East Ridge Road
General Information
- Standard status
- Active
- Size
- 14,805 SF
- Lot size
- 1.44 Acres
- Property subtype
- Retail
Building Details
- Year Built
- 2005
Listing Agency
CBRE - Atlanta
Listed by
Chris Bosworth · License #GA 248342
Source
Crexi
Added: Jun 12, 2024 Updated: Jul 6 at 7:59 am Checked: Jul 20 at 3:08 am
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 CBRE - Atlanta
Investment Insights
Based on property information with market context.
This offering features a 14,805 square-foot Walgreens situated on 1.44 acres in Irondequoit, New York, which is part of the Rochester, NY MSA with a population of 1.1 million. The property is available for sale and is under an absolute NNN lease with a corporate guaranty from Walgreen Co. The lease was recently extended for an additional 3 years through 2034 and has approximately 8.8 years of term remaining, along with ten, 5-year renewal options.
Key Highlights
- Absolute NNN lease structure, offering zero landlord responsibilities.
- Corporate guaranty from Walgreen Co.
- Lease recently extended through 2034.
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $319.8k | $21.60 |
| − Vacancy | −$32.9k | −$2.22 |
| EGI | $286.8k | $19.38 |
| − OpEx | −$71.7k | −$4.84 |
| NOI | $215.1k | $14.53 |
14,805 SF · lease $21.60/SF/yr · vacancy 10.30% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$3.07M
$2.69M – $3.59M
NOI $215,137 @ 7.0% cap · market cap 4.58%
Second Best
Retail
$2.87M
$2.51M – $3.35M
NOI $200,795 @ 7.0% cap · market cap 4.27%
Theoretical Best
Office A
$4.06M
$3.55M – $4.73M
NOI $283,901 @ 7.0% cap · market cap 6.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Walgreens Photo
(Bike/Boat/Book/etc) Store
Walgreens
Pharmacy
Walgreens Pharmacy
Pharmacy
ATM
Atm
COVID-19 Drive-Thru Testing ...
Pharmacy
Similar For Sale Nearby
Similar Off Market Nearby
- Rochester Regional Health - Human Resources — 100 Kings Hwy S, Rochester, NY 14617
- CVS Pharmacy — 500 Skyview Centre Pkwy, Rochester, NY 14622
- Andrew J. Flood, Pharm — 500 Medley Centre Pkwy, Irondequoit, NY 14622
- Sara Roback — 500 Medley Centre Pkwy, Irondequoit, NY 146222447
- Glamour Brows and Lashes — 1780 east ridge road, rochester, ny 14622
FAQs
What type of property is this?
Drug store - 14,805 SF Walgreens on 1.44 AC for sale.
Where is this drug store located?
The property is located at 2100 East Ridge Road 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: Absolute NNN lease structure, offering zero landlord responsibilities.; Corporate guaranty from Walgreen Co.; Lease recently extended through 2034.
