№ 1,777,582
Retail store, Brooklyn, New York, USA
$8,785,000
$3,058 /m²
  • Total area 2,872 m²
  • Yield 5.0%
  • Lease term
  • Constructed
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Irina Pchelinova
Irina Pchelinova
Investment consultant in Brooklyn
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    Key project parameters

    Total area
    2,872 m²

    Project description

    A corner of the famous pharmacy chain in Brooklyn.

    Description

    A retail drug store.

    Benefits

    • high traffic (combined traffic counts of 38,900 VPD +)
    • location among national retailers: UPS, Rite Aid, Chase Bank, T-Mobile, Dunkin Donuts, Domino's Pizza, Capital One Bank and others

    Tenants

    Agreement
    n/a

    The tenant (since 1999) has been one of the largest pharmacy chains in the United States in terms of the number of points of sale (about 10,000) and the total income from the prescription.

    The company sells prescription drugs and a wide range of general-purpose products (over-the-counter drugs, care products and cosmetics, seasonal products), and also provides health services through a chain of medical clinics (usually located in stores).

    The chain is an investment class tenant with a Standard & Poor's credit rating of “BBB + ”.

    The lease expires after 2.5 years + 2x10 years of the renewal option.

    Type of lease: Absolute Net Lease (with zero landlord duties).

    Financial performance

    Yield
    5.0%

    The cost of the property is 8,784,600 $.

    The absolute annual income is 439,230 $.

    The current yield is 5,0%.

    Request a personalised calculation

    Location and nearby infrastructure

    The property is located in Brooklyn (the western part of Long Island). Brooklyn is the most populated borough of New York — more than 2.6 million inhabitants.

    3 bridges connect Brooklyn with Manhattan, and 1 — with the Staten Island area. Brooklyn is served by a number of routes of the New York underground. The area has 56 bus lines, including express routes linking Brooklyn and Manhattan. There is a suburban train station in Brooklyn, from where the electric trains go to the suburban part of Long Island.

    Transport accessibility:

    • La Guardia Airport — 30 minutes by taxi (without traffic jams)
    • John F. Kennedy Airport — 25 minutes by taxi (without traffic jams)
    • Wall Street/ Financial District — 33 minutes by metro
    • Times Square — 40 minutes by metro
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    annual yield
    From 10%
    exit period
    3 years
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    How we help investors

    Analysing the needs

    We use a methodology that enables us to formulate requests and find good deals in the market

    Developing a strategy

    We analyse all inputs and, with the help of local consultants, propose the optimal form of ownership, tax solutions, and exit strategy for the investment

    Providing transaction support

    We support the investor from the moment of project selection to the closing of the deal. We offer assistance at every stage, including helping to open a bank account

    Helping with management

    We can take over the management of your property or recommend a suitable management company

    Organising property viewings

    We will arrange a visit to the site to view one or more projects

    Saving time

    At the investor's request, we can arrange a remote purchase with the least possible visits to the country

    Not sure where to start? Book a consultation
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      Anna Vorobyeva
      Anna Vorobyeva,
      Head of Commercial Property Department
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      Mikhail Reyderman
      Mikhail Reyderman
      Commercial Real Estate Expert

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        Head of Commercial Property Department
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