Filling station – New York City, State of New York, USA

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Filling station – New York City, State of New York, USA

$3,315,000
$39,000 /m²
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  • Total area
    85 m²
  • Yield
    5.25%
  • Built in 
    2000
Details
Property parameters
  • Land area: 1,699 m²
  • 1-floor building
Financial performance
  • Annual income: $160,177
Tenants
  • Fully let

Fully leased gas station.

Description

Building area: 85.2 m².

Land area: 1,699 m².

Financial performance

Сost of the facility is 3,315,000 $.

Absolute annual income is 174,037 $.

Current yield of 5,25%.

Tenants

About tenant:

  • US wholesale distributor of motor fuels
  • has subsidiary in Canada
  • the second largest company in Pennsylvania
  • more than 5,000 branded gas stations

The property is fully leased under a 20 year NNN lease with approximately 18 years remaining and 2, 5 year renewal options.

NNN lease is 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 gas station is situated in Suffolk County, NY.

There are car dealerships, gas stations, electric car charging stations, a shop and a grill bar in close proximity.

Suffolk County is a suburban county on Long Island and the easternmost county in the U. S. state of New York. The county's population is about 1,5 million people — it is the fourth-most populous county in New York.

Its major highways are:

  • I-495 (Long Island Expressway) — traverses the county from the Nassau County line to Riverhead. The expressway connects to Manhattan via the Queens-Midtown Tunnel.
  • New York State Route 27 — crosses the county from the Nassau County line in the West to Montauk Point in the East. The road is limited-access from West Babylon to Southampton.

Long Island MacArthur Airport in Ronkonkoma, Republic Airport in East Farmingdale and Francis S. Gabreski Airport in Westhampton Beach are located in this county.

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