Retail store, state of New York, USA

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Retail store, state of New York, USA

$4,727,000
$2,215 /m²
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  • Total area
    2,134 m²
  • Yield
    5.5%
  • Built in 
    2017
Details
Property parameters
  • Land area: 13,277 m²
  • 1-floor building
Financial performance
  • Annual income: $219,932
Tenants
  • Fully let

Retail store in the state of New York.

Description

Retail store of automotive components and accessories.

Financial performance

The cost of the property is 4,727,272 $.

The absolute annual income is 259,999 $.

The current yield is 5,5%.

Tenants

The tenant is one of the largest US companies for the sale of automotive components and accessories, numbering more than 5,000 stores throughout the US and Mexico.

The lease agreement is valid for 15 years + the extension option 4х5 years.

Type of rent: triple net lease.

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 property is located in the town with the population more than 20 thousand people (Westchester County, New York). The city belongs to the suburbs of New York and located north of the Bronx.

There is a cafe, a car wash, a tire shop, an automobile workshop, a bus stop in a walking distance.

The distance to New York (Manhattan) is about 65 km.

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