Entertainment complex, Long Island, New York, USA

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Entertainment complex, Long Island, New York, USA

$1,088,000
$1,648 /m²
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  • Total area
    660 m²
  • Yield
    6.2%
  • Built in 
    1962
Details
Property parameters
  • Land area: 743 m²
  • Number of parking lots: 10
  • 1-floor building
Financial performance
  • Annual income: $68,605
Tenants
  • Fully let
  • End of lease: 2028

Swimming pool in a one-storey building.

Description

Total area of the property is 660 m²

The construction material of the building is masonry.

The tenant has invested about 750,000 $ in the property.

The purchase price of the swimming pool includes parking for 10 cars.

Financial performance

Absolute annual income is 67,236 $.

The current yield of 6.2%.

Tenants

The tenant is a swimming pool chain.

The lease agreement is valid through 2028 and stipulates the rental income indexation at 5% every 2 years.

In 2022 the rental income increases to $ 117,781 and then continues to grow up by 5% every 2 years.

Lease agreement type: Triple Net Lease. The tenant covers all expenses related to the taxes, insurance and maintenance of the property.

Location and nearby infrastructure

The property is situated on the boulevard with a high pedestrian traffic, in one of the cities in Long Island. There are railway station, shops and restaurants located in close proximity from the swimming pool. The city population is more than 30 thousand people.

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