196-200 East Main Street
Retail | 6.00% CAP | 5,000 SqFt
Marketing description
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 196-200 East Main Street ? Brewster, NY (the 'Property').
The property is a multi-tenant retail center in Brewster, NY, featuring a long-standing, essential grocer and nail salon. It is situated within a commercially zoned business center and is 5,000 square feet. Property features include an ample surface parking lot and excellent signage opportunities from Main Street.
The property is well-maintained and makes an excellent addition to diversify the portfolio.
Brewster is located 90 minutes north of New York City and within minutes of the NY-CT border. 196-200 East Main Street benefits directly from Route 22 access, which connects to Highway 202 and interstates 84 and 684 for seamless distribution routes. Conveniently, a robust employee base with over 15,500 employees lives within a 10-mile radius of the property.
Westchester County Airport is 29 miles away and within a 38-minute drive. New York Stewart International is 37 miles away and approximately a 53-minute drive.
Investment highlights
- Strategically Located: off of Route 202, a major thoroughfare, 2.5 miles from the intersection of Interstates 84,684, and 60 miles north of New York City
- Easy Access: Convenient New York City access via the Brewster Metro-North train station, which is less than 10 minutes away and connects to Manhattan within 1..5 hours
- Shopping Destinations: Located less than 7 minutes from The Highlands Retail Center, Brewster's largest shopping center, and 20 minutes from Danbury Fair Mall, New England's largest shopping mall; additionally, the asset is positioned alongside the Route 202 corridor and minutes from Lakeview Shopping Center, a convenient grocery-anchored shopping plaza.
- Low-Management Opportunity: The recent renewed leases is guaranteed by tenants and offering reliable income growth with attractive hedge against inflation. With minimal landlord responsibility, this is a compelling low-management opportunity.
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