№ 1,930,366

Chain Pharmacy, New York State, USA

$2,069,000
  • Total area
  • Yield 7.25%
  • Lease term 2026
  • Constructed  1996
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Anastasia Kostyukevich
Investment consultant in New York City
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    Key project parameters
    Leasable area
    1,292 m²
    Number of parking lots
    50
    Floors
    1
    Constructed 
    1996
    Project description

    Chain pharmacy in New York State.

    Description

    The detached one-storey building with a leasable area of 1,292 m².

    Tenants
    Agreement
    Yes
    End of lease
    2026

    The building is fully let. The tenant is the largest pharmacy chain in the United States with nearly 10,000 branches.

    Lease term — 6.5 years with extension options 3x5 years.

    NNN lease.

    The tenant has been in the building for about 25 years.

    Financial performance
    Yield
    7.25%

    The annual income is 150,000 $.

    The yield is 7.25%.

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    Transaction costs

    The brokerage fee is 3%.

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    Location and nearby infrastructure

    The property is located in New York State, in a town of approximately 15,000 residents, 20 kilometers from Buffalo.

    The building is located in the heart of the town — on the main thoroughfare leading to downtown Buffalo. Retail tenants in the area include Tops Friendly Market grocery store, Dairy Queen, Citizens Bank, McDonald's, Rite Aid, Little King, and 7-Eleven. There is also a large shopping center 6 km from the building with well-known anchor tenants.

    Micro-location is a residential and business area of ​​the settlement, within a radius of 5 miles (8 km) 141 thousand people (about 61 thousand households) live with an average family income of $ 77,000. The attractiveness of the location for the tenant is due to the proximity of 2 public transport stops (100 and 170 m), two highways (about 46 thousand cars per day) and good educational infrastructure (3 schools within a radius of 1 km), which makes micro-location available to residents and employees of nearby enterprises.

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    annual yield
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    exit period
    3 years
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      Anna Vorobyeva,
      Head of Commercial Property Department
      Mikhail Reyderman
      Mikhail Reyderman
      Commercial Real Estate Expert

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        Head of Commercial Property Department