5 Transit St Lockport, NY 14094

Property Details for 5 Transit St

Lot size

2.01 lot acres

Property size

13,905 SF

Property type

Retail properties

Property subtype

Drug stores

Description

This exceptional investment opportunity presents a 13,905 square foot Walgreens in Lockport, NY, situated on a 2.01-acre lot at a hard corner location with high visibility (over 13,000 vehicles per day). The property is subject to a net lease with a corporate guarantee from Walgreens (NASDAQ: WBA), offering minimal landlord responsibilities. The current lease has five years remaining, with seven additional five-year options. The asking price is $3,587,500, representing a compelling $258 per square foot and a 9.00% cap rate, based on a current net operating income (NOI) of $322,875. The tenant has already exercised their first renewal option, demonstrating a strong commitment to this location. This established Walgreens enjoys a long operating history and is conveniently located less than one mile from downtown Lockport, surrounded by complementary businesses. The property offers excellent ingress and egress, maximizing its high-traffic location. This is a rare opportunity to acquire a stable, high-performing net-leased asset with significant long-term potential.

Location Insight

City

Lockport

County

Niagara

State

New York

Longitude

-78.6977

Latitude

43.1682