Poughkeepsie, NY - Walgreens

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN, freestanding, drive-thru equipped, Walgreens investment property located in Poughkeepsie, NY. The tenant, Walgreen Eastern Co., Inc., has over 11 years of firm term remaining with options that can extend the term through 2086. The lease is signed by the corporate entity and is absolute NNN with zero landlord responsibilities, making it an ideal, management-free investment opportunity for a passive investor. Founded in 1901, Walgreens is among the largest pharmacy retailers in the United States with over 8,000 operating locations.

Walgreens is strategically located at the signalized, hard corner intersection of Dutchess Turnpike and Degarmo Road, averaging a combined 27,500 vehicles passing by daily. The property also benefits from nearby access onto State Highway 55 (33,900 VPD), making it a centralized location with easy access. The property is ideally situated within a dense retail trade area with nearby tenants including Panera Bread, Starbucks, Sherwin-Williams, Advance Auto Parts, Sally Beauty, and others. The dense retail trade area drives a loyal, local consumer base to the area, promoting crossover exposure and contributing to the local economy. Furthermore, the property is near numerous single-family communities and multi-family complexes including Cherry Hill (130 units), Centerburry Gardens (204 units), Eastdale Village (390 units), and others, providing a direct residential consumer base. The 5-mile trade area is supported by over 99,000 residents and 52,200 daytime employees, with an affluent average household income of $109,605.