Store with retail chain tenant.
Description
A free standing 836 m² building.
The cost of the facility is 3,500,000 $.
Absolute annual income is 182,000 $.
Сurrent yield of 5,2%.
Fully let.
About tenant:
- American variety store chain
- over 8,000 locations in all states except Alaska, Hawaii, Oregon and Washington
- the second largest retailer of its type in the United States
- employs 1,400 people
Type of lease: triple net lease.
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.
There is a bus stop (1 minute walk), a food store, a cafe, a bank, a mini market and a bar in the immediate vicinity.
The property is located in Queens — the easternmost and largest in area of the five boroughs of New York City. It is located on Long Island and is washed by the Atlantic Ocean. With a population of 2.3 million people, it is the second most populous district of New York (after Brooklyn) and the 10th most populous district in the United States.
