12 Park Dr, Hornell, NY 14843

This exceptional investment opportunity presents a fee-simple ownership of a 13,813 square-foot Walgreens pharmacy located at 12 Park Dr, Hornell, NY 14843. The property boasts a strong absolute NNN lease with a corporate guarantee from Walgreens, minimizing landlord responsibilities. The lease, originally commencing February 23, 2005, has been extended and currently has approximately 9.4 years remaining, expiring March 30, 2034. Built in 2004, this single-tenant property sits on a 1.71-acre lot with 67 parking spaces and features a convenient drive-thru. The property enjoys a high occupancy rate of 100% and generates a substantial net operating income (NOI) of $337,380, representing a 6.50% cap rate. The asking price is $5,190,000, translating to $375.73 per square foot. The property is zoned B-2 General and benefits from a high-traffic location at the intersection of State Highway 36 and Park Drive, experiencing 20,100 vehicles daily. The trade area is well-supported by a population of 15,000 residents and 9,000 employees, with an average income of $68,983. Future rental increases are built into the lease, with adjustments scheduled for 2025 and 2030. This is a rare opportunity to acquire a stable, high-performing asset with a national tenant in a desirable location. The property's APN is 460600 166.06-07-046.101.