Retail store, state of New York, USA

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Retail store, state of New York, USA

$3,451,000
$838 /m²
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  • Total area
    4,115 m²
  • Yield
    6.7%
  • Built in 
    1996
Details
Property parameters
  • Land area: 19,916 m²
  • Number of parking lots: 98
  • 1-floor building
Financial performance
  • Annual income: $207,652
Tenants
  • Fully let

Retail drug store in the state of New York.

Description

Retail store of medicines.

The facade (90 m²) faces the street.

Financial performance

The cost of the property is 3,451,128 €.

The absolute annual income is 231,226 €.

The current yield of 6,7%.

Tenants

Tenancy: Single Tenant

Type of lease: triple net lease.

The most common type of lease in case of long-term contracts. The owner takes a lease ”in triple size, “ that is, without deduction of tax, insurance and maintenance costs (these costs are contractually borne by the tenant). The triple net lease agreement is aimed at saving the lessor from unnecessary costs, additional work and thereby increase the profitability of real estate.

Location and nearby infrastructure

The property is located in a residential area of the city with a population of about 30 thousand inhabitants (Orange County, New York). The city is part of the New York City Agglomeration — one of the largest in the world, whose population is more than 20 million people.

There is a cafe, a supermarket, a garage, a library, a post office, a cinema in close proximity.

The distance to New York is about 100 km.

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