CAP Rate: 6.10%
Net Operating Income: $368,000
Lot Size: 1.68 AC
Year Built: 2007
The subject offering is a fee simple interest in an absolute NNN leased Walgreens. There are 64 years remaining on the initial 75 year lease, with the lease calling for zero landlord obligations. The tenant has fifty 1-year options to renew. The subject property is well situated on a major commercial thoroughfare, surrounded by major national retailers.
Malone is a town in Franklin County, New York. The population was 14,545 at the 2010 census. The town contains a village also named Malone, which is the county seat. The town is an interior town located in the north-central part of the county.