2100 Ridge Rd Irondequoit, NY 14622

Property Details for 2100 Ridge Rd

Year built

2000

Lot size

0.46 lot acres

Property size

4,544 SF

Zone code

5

Property type

Investment properties

Property subtype

Retail residential properties

APN

262800 074.15-14-16

APU

262800074151416

Description

This exceptional investment opportunity presents a 14,805-square-foot Walgreens located at 2100 East Ridge Road, Irondequoit, NY 14622. The property boasts a strong 7.49% cap rate and a substantial net operating income (NOI) of $352,000. The single-tenant, absolute NNN lease with Walgreens, a credit-rated tenant with a corporate guarantee, provides exceptional security and stability. The lease features approximately 9.9 years remaining, extending to October 31, 2034, with ten 5-year renewal options, including an 11.65% rent increase in the first option and flat increases thereafter. Built in 2005, this one-story building sits on a 1.44-acre lot and includes 67 parking spaces. The property benefits from its prime location on a hard corner at a signalized intersection with high traffic volume, proximity to major roadways (including NY-590), and its placement within a thriving retail corridor featuring numerous national brands and a large hospital. The surrounding area also includes significant educational institutions, further enhancing the property's appeal and long-term viability. This is a rare opportunity to acquire a high-performing, net-leased Walgreens with significant rent growth potential. The asking price is $4,700,000, representing a price per square foot of $317.46. The property's strong tenant, long lease term, and prime location make it an ideal addition to any investment portfolio.

Location Insight

City

Rochester

County

Monroe

State

New York

Longitude

-77.6837

Latitude

43.2083

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments