- New York City Supermarket $2,069,000
- Basic parameters
- Photo
№ 1,930,366
Chain Pharmacy, New York State, USA
$2,069,000
- Total area —
- Yield 7.25%
- Lease term 2026
- Constructed 1996
Key project parameters
- Leasable area
- 1,292 m²
- Number of parking lots
- 50
- Floors
- 1
- Constructed
- 1996
Project description
Chain pharmacy in New York State.
Description
The detached one-storey building with a leasable area of 1,292 m².
Tenants
- Agreement
- Yes
- End of lease
- 2026
The building is fully let. The tenant is the largest pharmacy chain in the United States with nearly 10,000 branches.
Lease term — 6.5 years with extension options 3x5 years.
NNN lease.
The tenant has been in the building for about 25 years.
Financial performance
- Yield
- 7.25%
The annual income is 150,000 $.
The yield is 7.25%.
Transaction costs
The brokerage fee is 3%.
Location and nearby infrastructure
The property is located in New York State, in a town of approximately 15,000 residents, 20 kilometers from Buffalo.
The building is located in the heart of the town — on the main thoroughfare leading to downtown Buffalo. Retail tenants in the area include Tops Friendly Market grocery store, Dairy Queen, Citizens Bank, McDonald's, Rite Aid, Little King, and 7-Eleven. There is also a large shopping center 6 km from the building with well-known anchor tenants.
Micro-location is a residential and business area of the settlement, within a radius of 5 miles (8 km) 141 thousand people (about 61 thousand households) live with an average family income of $ 77,000. The attractiveness of the location for the tenant is due to the proximity of 2 public transport stops (100 and 170 m), two highways (about 46 thousand cars per day) and good educational infrastructure (3 schools within a radius of 1 km), which makes micro-location available to residents and employees of nearby enterprises.
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