Listed by Trinity Real Estate Investment Services
$3,257,000
Apple Bank
Details
Property Type Retail
Sub Type Bank
Square Footage 3,845
Cap Rate 5.23%
NOI $170,500
Occupancy 100%
Tenancy Single
Brand/Tenant Chase Bank, Bank of America
Lease Type Absolute NNN
Lease Term 15
Lease Expiration 05/05/2036
Remaining Term 9.8
Rent Bumps Yes
Lease Options Two (2), 5-Year; 95% of FMV
Price per SqFt $847
Year Built 2003
Acreage 0.690
Investment Type Net Lease
Tenant Credit Credit Rated, Corporate Guarantee
Lease Commencement 05/05/2021
Ground Lease No
Ownership Fee Simple
Retail | 5.23% CAP | 3,845 SqFt
Marketing description
Trinity Real Estate Investment Services is pleased to present the opportunity to an Apple Bank in Babylon, NY. This property is in the heart of Babylon’s Commercial District, boasting a prime corner location at the signalized intersection of Montauk Hwy and Little East Neck Rd, with over 10 years remaining on the current lease term.
Property Website: https://trinityreis.com/listing/8-little-east-neck-rd/
In cooperation with Brian Brockman at Bang Realty-New York Inc | NY #10311208985 | [email protected] | (513) 898-1551
Investment highlights
- Apple Bank in the Heart of Babylon's Commercial District
- With 10+ Years Remaining on Current Term
- Built-In 10% Rent Increases Every 4 Years Through the Remaining Primary Term, Plus Two 5‑Year Renewal Options at 95% of Fair Market Value
- Corner Location at a Signalized Intersection of Montauk Hwy and Little East Neck Rd With Combined Traffic Counts of Nearly 38,000 VPD
- Dense 5-Mile Trade Area With 255,000+ Residents, Surrounded by Numerous High-Density Apartment Complexes and Single-Family Neighborhoods in the Immediate Area
- Affluent 5-Mile Community Surrounding Subject Property With $152K+ Average Household Income
- Proximity to Major Retail, Services, and Transit Routes Enhancing Long‑Term Property Value
- High‑Barrier‑to‑Entry Long Island Market With Limited Supply of Quality Retail Assets
Listing Contacts
Listed by Trinity Real Estate Investment Services
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$170,500.00
$14,208.33/mo
Valuation Metrics
0
DSCR
5.23%
Cap Rate
5.23%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
