Street retail in a stand-alone building.
Description
Total area of the property is 891 m²
Building was renovated in 2016, roof and HVAC were refurbished.
The purchase price includes parking for 25 cars.
Absolute annual income is 112,982 $.
The current yield of 6%.
The tenant is a supermarket chain with about 130 branches in 5 States.
The lease agreement was signed for 15 years with extension options for 2x10 years.
The agreement stipulates the rental payment indexation at 10% every 5 years.
Lease agreement type: Triple Net Lease. The tenant covers all expenses related to the taxes, insurance and maintenance of the property.
Supermarket situated in the city of Newark, NJ, in the densely populated area. There are University, few churches and public transport stops located within walking distance from the property.
