26 Wicks Rd Brentwood, NY 11717
- Investment properties
- 1.16 lot acres
Current Use by Public Records
- Walgreens Photo / Photo Lab / Photo Shop
- Walgreens Pharmacy / Pharmacy
- FedEx OnSite / Mailing Service
- COVID-19 Drive-Thru Testing at Walgreens / Pharmacy
- Western Union / Money Transfer Service
Property Details for 26 Wicks Rd
- Lot size
- 1.16 lot acres
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 0500-136.00-01.00-067.003
- APU
- 500136000100067003
Description
This exceptional investment opportunity presents a 14,393-square-foot Walgreens, situated on a 1.166-acre lot at 26 Wicks Rd, Brentwood, NY 11717. The property boasts a strong 5.00% cap rate and a substantial net operating income (NOI) of $636,853. Secured by a long-term, absolute NNN lease with Walgreens (NASDAQ:WBA), the lease commenced October 16, 2016, and has a remaining term of approximately 12 years, expiring October 30, 2036. The lease includes options for renewal. This single-tenant property benefits from a prime location with high visibility, situated on a hard corner with significant daily traffic counts exceeding 50,000 vehicles on Wicks Road and Suffolk Avenue. Built in 2016, the pharmacy enjoys a 100% occupancy rate and serves a densely populated area with over 125,000 residents within a 3-mile radius, exhibiting an average household income exceeding $128,000. The asking price is $12,738,000, translating to a price per square foot of $885.01. This represents a rare chance to acquire a freestanding Walgreens in the New York City metro area with a proven track record of high sales volume, capitalizing on its strategic position within a market underserved by competing pharmacies.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $11,530,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $12,290,000
- 6.5%
- $12,190,000
- 7%
- $11,630,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $13,305,000
- Geo Method
- $12,140,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $10,765,000
- Retail
- $11,320,000
- Mixed-Use
- $13,615,000
- Hospitality
- $11,690,000
- Educational
- $13,095,000
- Residential Income
- $11,880,000
- Energy
- $10,955,000
- Income-Based Land
- $14,415,000
- Food Service
- $14,210,000
Location Insight
- Map
- Local Demand
- City
- Brentwood
- County
- Suffolk
- State
- New York
- Longitude
- -73.2608
- Latitude
- 40.7782
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA