Description

4815 Broadway is a 13,905-square-foot Walgreens investment at the signalized Broadway and Transit Road intersection in Depew, New York. The single-tenant property is offered at $2,142,850 and produces reported annual NOI of $150,000, equating to a 7.00% cap rate. Walgreens remains open at the location, which occupies a 2.14-acre site in the Buffalo-Niagara Falls market.

The one-story building was constructed in 1996 and provides 30 parking spaces, a drive-through, pylon signage and approximately 106 feet of Broadway frontage. Broker materials report traffic counts of approximately 30,440 vehicles per day on Broadway and 27,241 vehicles per day on Transit Road.

The Walgreens lease is structured as NN, with the tenant responsible for HVAC, common-area maintenance, taxes and insurance; landlord responsibilities include the roof, structure and parking lot. The stated lease term extends through January 31, 2047, but Walgreens holds termination rights beginning January 31, 2027 and every five years thereafter. Buyers should underwrite that termination schedule alongside the property's operating history, corner visibility and established retail location.