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    79 North St Cortland, NY 13045

    Sponsored
    For Sale
    $3,481,885

    Dryden, NY Pharmacy - High-Yield Investment

    Property size:
    11,324 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional investment opportunity presents a 11,324 square foot Walgreens pharmacy located at 79 North Street, Dryden, NY 13045. The property boasts a strong 7.00% cap rate and a long-term, absolute triple net (NNN) lease with 13.6 years remaining until June 30, 2038. Built in 2018, this single-story building sits on a 2.32-acre lot with 344 feet of frontage on State Route 13, a major retail corridor, ensuring excellent visibility and accessibility. The property's 100% occupancy and franchisee tenant provide exceptional stability. The asking price is $3,481,885, translating to a price per square foot of $307.48. The lease commenced June 8, 2018, and is categorized as a single-tenant, absolute NNN lease. Adjacent to the property is pre-approved land for development of up to 5,700 square feet, including a drive-thru option. The property is zoned for commercial business use. This is a rare opportunity to acquire a high-performing, net-leased Walgreens in a prime retail location.

    Property Features for 79 North St

    General Information

    Property type
    Individual retail properties
    Square Feet
    11,324 SF
    Lot Size
    101,059 SF

    Building Details

    Year Built
    2018
    Buildings
    1
    Stories
    1

    HighLights

    • 11,324 SF Walgreens pharmacy on 2.32‑acre lot in Dryden, NY.
    • 7.00% cap rate with a long‑term NNN lease expiring June 30, 2038 (13.6 years remaining).
    • $3,481,885 asking price ($307.48/SF).
    • Located on State Route 13 with 344 feet of frontage.
    • 100% occupancy with a single‑tenant, absolute NNN lease.
    • Adjacent land approved for up to 5,700 SF of additional development, including a drive‑thru.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drug stores

    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
    Cortland
    County
    Tompkins
    State
    New York
    Longitude
    -76.298099288006
    Latitude
    42.497264181667

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    FAQs

    What type of property is this?
    Individual retail property - Dryden, NY Pharmacy - High-Yield Investment
    Where is this individual retail property located?
    The property is located at 79 North St Cortland, NY.
    What is the asking price?
    The asking price for this property is $3,481,885.
    What are key features of this property?
    This property features: 11,324 SF Walgreens pharmacy on 2.32-acre lot in Dryden, NY.; 7.00% cap rate with a long-term NNN lease expiring June 30, 2038 (13.6 years remaining).; $3,481,885 asking price ($307.48/SF).
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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
    79 North St Cortland, NY 13045
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