Current Use by Public Records
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- Walgreens Pharmacy / Pharmacy
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- Bethpage FCU ATM / Cars / Atm
- Citibank ATM / Atm
Property Details for 275 Broadway
- Lot size
- 2.66 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Drug stores
Description
This exceptional investment opportunity presents a 15,120 square foot, single-tenant Walgreens located at 275 Broadway in Amityville, New York. The property sits on a 2.66-acre lot with 100 parking spaces and benefits from a highly visible location on a signalized corner along a major Long Island thoroughfare, directly adjacent to the LIRR Amityville Station. The current lease, a Net-Net (NN) agreement, is with a credit-rated tenant, Walgreens Boots Alliance Inc., a publicly traded company with over 8,500 locations nationwide. The lease commenced May 1, 2023, and has a remaining term of approximately 10.4 years, expiring April 30, 2035, with five lease options. The current rent is $380,000 annually, representing a 5.76% cap rate and a price per square foot of $436.51. A significant 17.1% rent increase is built into the lease within the next 10 years. The property is zoned B-1 Retail Business Zone and is surrounded by strong demographics, including a high median household income of $92,500 and proximity to newly developed residential complexes such as Avalon Amityville (338 units) and Village By The Bay (115 units). The asking price for this exceptional, fully occupied retail property is $6,600,000. This is a rare opportunity to acquire a high-performing, long-term investment with a strong tenant and significant upside potential.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Amityville
- County
- Suffolk
- State
- New York
- Longitude
- -73.4168
- Latitude
- 40.6812
