Greiner Maltz Real Estate Inc.
Listed by Greiner Maltz Real Estate Inc.
Unpriced
163-30 Cross Bay Blvd. - Price Reduced - Cap Rate Now 10.69%
Details
Property Type Retail
Sub Type Grocery Store, Medical offices & services - ambulatory care
Square Footage 9,767
Cap Rate 10.96%
NOI $1,096,345
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Expiration 10/31/2028
Rent Bumps Yes
Lease Options 2 10 Year Options by Master Tenant Walgreens
Broker Co-Op True
Year Built 2009
Year Renovated 2013
Stories 1
Acreage 0.770
Zoning R3-1 · R2 · C2-2
Parking Spaces 42 spaces
Parking per 1,000 SqFt 4.30
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Ground Lease No
Corporate Guaranteed Retail | Px Lowered, Now 10.96% CAP | 9,767 SqFt
Marketing description
9,767 SF PRIME LOCATION. HIGH VISIBILITY INVESTMENT OPPORTUNITY. IDEAL FOR: MEDICAL SERVICES, RETAIL, FITNESS CENTER, EDUCATIONAL SERVICES, CHILD OR ADULT DAY CARE, SPECIALTY FOOD & SUPERMARKET, HIGH QUALITY SHOWROOM. NET LEASE RETAIL LEASE EXPIRATION BEFORE POSSIBLE EXTENSION IS END OCT 2028.
Investment highlights
- Absolute Triple Net
- Walgreens Corporate Guarantee
- High Income Area: Avg. H/H Income $130,308.
- Additional 23,575 Buildable SF
- Over 42 Parking Spaces
- 2.4 Years Left on Initial Lease Term w/ 2 Ten-Year Options
- Approx. $2.4 Million Guaranteed Income Until Oct. 2028
- Key Foods Has Spent Millions of Dollars Upgrading Building
- 30,000 + Vehicle Daily Traffic Count
- 180' Frontage On Cross Bay Blvd
Listing Contacts
Greiner Maltz Real Estate Inc.
Listed by Greiner Maltz Real Estate Inc.
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Loan Amount
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Annual Debt Service
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Annual Cash Flow
$1,096,345.00
$91,362.08/mo
Valuation Metrics
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Cap Rate
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