Angola, NY

Price: $ 3,360,000
CAP Rate: 10.00%
NOI: $ 336,000
Lease Term Remaining Before Options: 9 Years 1 Month
Investment Highlights
  • The investment allows for a significant portion of the purchase price to be recaptured during the initial lease term.
  • Situated on ±99,752 square feet (2.29 Acres) of land along NY Route 5.
  • The next closest Walgreens is 13 miles away while the nearest CVS is 15 miles away.
  • Positioned along the area’s primary commercial and commuter corridor with direct visibility and access.
  • 1 mile from Lake Erie and near Evangola State Park.
Offering Summary

We are pleased to market for sale the Walgreens property located at 9050 Erie Road, Angola, NY (the “Property”). Walgreens has been operating at this location for over 15 years under a absolute triple-net (NNN) lease with no landlord responsibilities, with 9 years of firm term remaining and sits on a 2.29-acre parcel.

 

The Property is located along Erie Road (NY Route 5), the area’s primary commercial and commuter corridor, with direct access and visibility from the roadway. It is positioned between the Village Center of Angola and the shores of Lake Erie, both approximately 1 mile away. The surrounding area includes John T Elementary, William G Middle School and Lake Shore High School and regional tenants such as Tops Friendly Markets, Rite Aid, Tim Hortons, Key Bank, and Napa Auto Parts. There is limited competition in the area with a Rite Aid adjacent to the Property with the next closest Walgreens located approximately 13 miles away and the nearest CVS approximately 15 miles away.

 

Angola is located about 20 miles southwest of Buffalo and benefits from proximity to Evangola State Park and Lake Erie, which draw seasonal visitors for beach access, camping, boating, and fishing.

Price: $ 3,360,000
CAP Rate: 10.00%
NOI: $ 336,000
Lease Term Remaining Before Options: 9 Years 1 Month