Kinney Pharmacy Retail Portfolio

• Century-Long, Regionally Dominant Tenant — Kinney Drugs / KPH Healthcare Services, Inc. has operated as a 100% employee-owned pharmacy chain since 1903, growing to nearly 100 stores across New York and Vermont and earning Chain Drug Review’s Regional Chain of the Year recognition. This operating tenure and ownership structure reflect a tenant built for long-term community presence.
• Top Ranked Store and Strong Sales — The Lyons location ranks in the top 6% of all Kinney Drug stores for foot traffic. Because the lease requires the tenant to report sales, investors can verify the store’s strong operating performance, which is particularly impressive for a market of this size (contact broker for details).
• Lucrative Overage Rent — Strong store performance has generated annual percentage rent as high as $96,000 over the past three years. The offering is underwritten using the lowest overage rent received during that period ($73,000 in 2025), providing potential upside if sales remain strong.
• Supported by Prestigious Hamilton College – Located just minutes from Hamilton College, one of the nation’s premier liberal arts institutions, the property benefits from a stable population of students, faculty, staff, alumni, and visitors that support the area’s retail economy. Hamilton’s notable alumni include David Tepper, Ryan Serhant, and Nobel Peace Prize recipient Elihu Root.
• Well Below Replacement Cost – With the tenant paying just $12.12 PSF in rent, the property is offered at approximately $161.58 PSF, well below the pricing of most fee simple single-tenant retail properties in today’s market.
• Still Committed after 20 Years — Kinney Drugs has successfully operated at this location for more than 20 years and reaffirmed its commitment by exercising its first renewal option in 2024, which also increased the base rent. One additional renewal option remains in 2029.
• Opportunistic Sized Lot – The oversized 1.55-acre parcel provides flexibility for future redevelopment or alternative site configurations.
• Historic Erie Canal Community – Lyons is located along the Erie Canalway National Heritage Corridor, benefiting from year-round recreational boaters, cyclists, heritage tourism, and community events including the annual Peppermint Days Festival. Combined with its role as the Wayne County seat, the market enjoys demand generated by both visitors and local government, healthcare, and commercial activity.
• Future Rental Upside – The current lease provides landlord with the opportunity to negotiate future rental rates after the current term expires, creating potential rental upside beyond the existing term.