2 N Park St Cambridge, NY 12816
Property profile & analytics
2 N Park St, Cambridge, NY 12816
- Retail space
- 11,984 SF
- 0.99 lot acres
Property ID
US63-1927792
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Subway / Take-out & Catering
- Walgreens Pharmacy / Pharmacy
- Walgreens / Pharmacy
- Walgreens Photo / (Bike/Boat/Book/etc) Store
- FedEx OnSite / Postal Service / Courier Service
Property Details for 2 N Park St
- Year built
- 2008
- Lot size
- 0.99 lot acres
- Zone code
- MU
- Property type
- Retail space
- APN
- 535001 256.17-1-24
- APU
- 53500125617124
Description
This exceptional investment opportunity presents a fee-simple ownership of a Walgreens pharmacy in Cambridge, NY. The 11,984 square foot building, constructed in 2008, sits on a 0.99-acre lot with 32 parking spaces and is located at a signalized intersection with high visibility. The property boasts a strong 100% occupancy rate with a corporate-guaranteed, absolute NNN lease. The current lease, commencing October 31, 2023, and expiring October 31, 2038, offers a remaining term of 14 years, with twelve 5-year renewal options. The lease includes scheduled 5% rental increases every five years, providing a hedge against inflation and consistent NOI growth. The property's Net Operating Income (NOI) is $182,760, resulting in a 6.25% cap rate at the asking price of $2,924,000 ($243.99/sq ft). The property is zoned MU (Main Street Mixed Use) and benefits from a strong tenant synergy with nearby national retailers, including Dollar General, O'Reilly Auto Parts, Subway, and Ace Hardware. The location is further enhanced by its proximity to Cambridge Central High School, serving 394 students. The 5-mile trade area boasts a population exceeding 5,000 residents and 1,000 employees, with an average household income of $86,182. This presents a low-management, high-return investment with significant long-term potential. The APN is 535001 256.17-1-24.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $2,640,000
- ML approach
- $2,670,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $2,490,000
- 6.5%
- $2,300,000
- 7%
- $2,135,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $2,296,000
Market price range: $395k - $2.30M -
Alternative Use
- Use
- Estimation
- RESTAURANT
- $1,515,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Cambridge
- County
- Washington
- State
- New York
- Longitude
- -73.3757
- Latitude
- 43.0281
- CBSA code
- 24020
- CBSA name
- GLENS FALLS, NY METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
0
$0.00
$29,900
$1,870,100
$1,900,000
-
$30,510
$1,908,266
$1,938,776
