Walgreens – Amsterdam, NY

Walgreens
4999 State Hwy 30, Amsterdam, NY 12010, USA

Sands Investment Group is pleased to exclusively offer for sale the 14,550 SF Walgreens Absolute NNN Asset located at 4999 State Highway 30 in Amsterdam, NY. The property features a corporate-guaranteed, Absolute Triple Net (NNN) Lease with ~57 years remaining and Walgreens’ first termination right in 7 years. Guaranteed by Walgreen Co., the lease requires the tenant to cover all taxes, insurance, utilities, and repairs, including the roof, structure, and parking lot, providing investors with a long-term, passive income opportunity with virtually no landlord responsibilities.

  • Corporate Guaranteed, Absolute Triple Net (NNN) Lease: ~57 years remain on the lease, with 7 years until Walgreens’ first termination right. Walgreen Co. guarantees the lease. Walgreens pays all taxes, insurance, and utilities and handles every repair, including the roof, structure, and parking lot, leaving zero landlord responsibilities.
  • Hard Corner on Amsterdam’s Main Retail Strip: The store sits on the corner of NY Route 30 and Tessiero Square (17,300+ VPD), next to Sanford Farm Shopping Center (Walmart Supercenter, Market 32). Amsterdam is on the NYS Thruway 32 miles from Albany, and Target, Kohl’s, The Home Depot, and Lowe’s along this stretch of Route 30 draw shoppers from across Montgomery County.
  • Only Walgreens in Amsterdam, Operating Since 2008: Walgreens has run this store since it opened in 2008 and kept it open while carrying out its 2024 plan to close about 1,200 underperforming stores nationwide. It is the only Walgreens serving Amsterdam, the next closest are about 10 miles away in Johnstown and Gloversville. Both Amsterdam Rite Aids, including the one on Route 30, closed in 2025 when Rite Aid left New York, leaving a single CVS as the only other national chain pharmacy in the city.
  • Across the Street From St. Mary’s Memorial Campus: St. Mary’s Healthcare’s Memorial campus, with an inpatient rehab unit and the 160-bed Wilkinson nursing facility, sits directly across Route 30. The store also houses a Labcorp patient service center.
  • Regional Distribution Hub With Amazon Under Construction: The neighboring Town of Florida already has Target’s regional distribution center (~800 employees), Beech-Nut’s baby food plant (~500) and a Dollar General distribution center. Amazon broke ground there in December 2025 on a $621 million, 3.2 million SF distribution center with at least 750 permanent jobs planned. Together, these give Amsterdam a large and growing workforce.

In Cooperation With SIG RE Services NY LLC – Lic. #10991233211 BoR: Andrew Ackerman – Lic. NY #10491210161

Walgreens
4999 State Hwy 30, Amsterdam, NY 12010, USA

Walgreens

Founded in 1901, Walgreen Co. is one of the nation’s leading community retail pharmacy brands, providing pharmacy, healthcare, wellness, and everyday retail services. The company operates approximately 8,000 locations across all 50 states and Puerto Rico, serving nearly 9 million customers and patients daily. Walgreen Co. employs approximately 211,000 team members, including nearly 85,000 healthcare service providers, reinforcing its extensive national presence and established brand recognition.

Price

$4,600,000

Cap Rate

7.50%

PREMISES

14,550 SF

YEAR BUILT

2008

RENEWAL OPTIONS

None (10, 5-Year Termination Option Periods)

Lease Expiration

09/30/2083

Lease Type

Absolute NNN

RENTAL INCREASES

None

BROKERS

Jonathan Silver
Los Angeles
Blake Marcus
Los Angeles
Cade Huggins
Los Angeles

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