Street retail in a residential complex.
Description
Total area of the property is 316 m²
The retail unit situated on the ground floor of prestigious condominium.
Financial performance
Absolute annual income is 568,400 $.
The current yield of 4%.
Tenants
The tenant is a large medical clinic company, which includes more than 80 branches in New York.
A new lease agreement was signed for 10 years and runs through 2026.
The agreement stipulates annual rental payment indexation at 3%.
Location and nearby infrastructure
The property is situated in the business district Gramercy. Retail unit is close to the supermarkets, banks and restaurants of such large retailers, as McDonald's, CVS, Chase Bank, Starbucks and 7-Eleven.
