Listed by SRS Real Estate Partners New York
$1,233,000
Advance Financial
Details
APN 092J C 05920
Property Type Retail
Sub Type Financial Services
Square Footage 6,000
Cap Rate 7.75%
NOI $95,565
Tenancy Single
Lease Type Absolute NNN
Lease Term 11
Lease Expiration 02/28/2033
Remaining Term 6.6
Rent Bumps Yes
Lease Options 2 (5-Year)
Year Built 1990
Year Renovated 2019
Acreage 0.490
Zoning Highway Oriented Business District (B-3)
Parking Spaces 30 spaces
Parking per 1,000 SqFt 5.00
Investment Type Net Lease
Lease Commencement 03/01/2022
Ground Lease No
Ownership Fee Simple (Land & Building Ownership)
Retail | 7.75% CAP | 6,000 SqFt
Investment highlights
- Over 6 years of remaining primary term with two (2) additional 5-year renewal options, providing stable in-place income and long-term extension potential
- 2% annual rental increases throughout the primary term support NOI growth and provide a built-in hedge against inflation, with fair market value (FMV) rent adjustments at the commencement of each renewal option
- Tenant responsible for taxes, insurance, and maintaining all aspects of the premises
- No landlord responsibilities
- Ideal, management-free investment for an out-of-state, passive investor
Listing Contacts
Listed by SRS Real Estate Partners New York
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$95,565.00
$7,963.75/mo
Valuation Metrics
0
DSCR
7.75%
Cap Rate
7.75%
ROI
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