Listing Summary
Single-tenant Walgreens net-lease investment for sale in Depew, NY. $2,142,850 list price, 7.00% cap rate, $150,000 NOI. 13,905 SF building on 2.14 acres.
Full Description
Prime Walgreens Single-Tenant Net-Lease Investment | Depew, NY
An exceptional NNN/NN retail net-lease investment opportunity located in the thriving Buffalo submarket of Depew, New York. Offered at $2,142,850, this 13,905-square-foot freestanding retail building sits on a expansive 2.14-acre parcel at 4815 Broadway. Fully leased to Walgreens, a premier nationally recognized pharmacy chain, this asset generates a stable $150,000 annual Net Operating Income (NOI), delivering an attractive 7.00% going-in cap rate.
Investment Specifications & Financial Summary
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Purchase Price: $2,142,850
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Annual Net Operating Income (NOI): $150,000
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Cap Rate: 7.00%
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Tenant: Walgreens Co. (Nationwide Corporate Retailer)
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Building Size: 13,905 SF
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Lot Size: 2.14 Acres
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Year Built: 1996
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Zoning: C-2 (Commercial / Broad Retail Uses)
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Lease Structure: Double Net (NN) — Tenant handles HVAC, CAM, Taxes, and Insurance; Landlord handles Roof, Structure, and Parking Lot.
Long-Term Tenant Commitment & Strong Lease Fundamentals
Walgreens has occupied this location for nearly three decades, demonstrating long-standing commitment and strong store performance at this location:
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Extensive Site History: The original 35-year lease commenced on January 25, 1997, proving long-term historical viability at this site.
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Firm Lease Term Remaining: Current term extends through January 31, 2032, providing stable cash flow.
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Renewal Options: Features three (3) additional 5-year renewal options carrying the lease out to 2042 at the existing $150,000 annual rental rate framework.
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Corporate Tenant Security: Backed by Walgreens, an industry leader operating over 8,500 locations nationwide.
High-Traffic Retail Corridor & Strong Demographics
Situated directly on Broadway (Route 20), the site enjoys exceptional exposure along one of the area's primary commercial thoroughfares. Nearby traffic counts range from 18,900+ VPD up to 30,440+ VPD, driving continuous daily visit volumes.
The immediate commercial ecosystem features major national and regional retail anchors, including Wegmans, Tops Friendly Markets, Walmart, Home Depot, and Tim Hortons, alongside local community attractions like Como Lake Park and the Lancaster Opera House.
Surrounding Demographic Profile:
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1-Mile Radius: 8,390 Residents | $83,048 Avg Household Income
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3-Mile Radius: 71,587 Residents | $95,739 Avg Household Income
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5-Mile Radius: 145,831 Residents | $92,995 Avg Household Income
Core Investment Highlights
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7.00% Cap Rate generating $150,000 in reliable annual NOI.
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Single-Tenant Net-Lease Structure with minimal administrative overhead.
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Long-Term Walgreens Occupancy dating back to 1997.
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Substantial 2.14-Acre Parcel along a high-volume retail corridor (30,000+ VPD).
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Dense, High-Income Submarket serving nearly 146,000 residents within 5 miles.
Quick Glance
- Listing ID:
CL-New York-28361
- Status:
Active
- Year Build:
1996
- Building Size:
13,905 SqFt
- Lot Size:
2.14 Acr
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