869 2nd Ave, Troy, NY 12182-1920

This fee-simple retail property offers a compelling investment opportunity. The 14,673 square foot Walgreens, built in 2008 and situated on a 1.91-acre lot at 869 2nd Ave, Troy, NY 12182, boasts a 9.50% cap rate and a strong NOI of $599,014. The asking price is $6,305,410. The property features a preferred double drive-through and benefits from a Net Lease (NN) structure with a single tenant. Walgreens has a remaining lease term of 4.5 years, with four 5-year renewal options, each including a ±5% rent increase. This location is strategically positioned within the Albany MSA, a thriving market with a large and growing population. Its proximity to Samaritan Hospital (a 277-bed facility), Rensselaer Polytechnic Institute, and Hudson Valley Community College further enhances its appeal. The property enjoys high visibility and convenient access to major roadways, including Interstate 787 and the Waterford Bridge, ensuring significant traffic flow. Walgreens rebranded this location in 2019, solidifying its commitment to the site. This investment presents a rare opportunity to acquire a high-performing, net-leased property in a desirable location with a strong tenant and significant growth potential. The property is located in Rensselaer County.