Loading...
+LOGIN
click to enable zoom
Loading Maps
We didn't find any results
open map
View Roadmap Satellite Hybrid Terrain My Location Fullscreen Prev Next
Advanced Search

$ 0 to $ 20,000,000

We found 0 results. Do you want to load the results now ?
Property Search

$ 0 to $ 20,000,000

we found 0 results

7-Eleven

$ 2,838,709
Baldwin, New York
add to favorites
price reduced

Address: 2099 Grand Avenue, Baldwin, New York, United States 11510

Type: Convenience Store

Cap Rate: 4.65%

Lease Type: Modified NNN

Annual Rent: $132,000

Net Operating Income: $132,000

Lease Term Remaining: 10.5 Years

Rental Increases: 10% Every 5 Years

Options: Three (3) Every Five (5) Year Options

Year Built: 2014

Rentable Sq/Ft: 2,700 SF

Rent Sq/Ft: $48.89

Price Sq/Ft: $1051

Lot Size: +/-0.27

Marcus & Millichap is pleased to present the market positioning and pricing analysis for a 7-Eleven located at 2099 Grand Ave in Baldwin, New York. The property is situated on an estimated 0.27 acre parcel of land. 7-Eleven is subject to a 15-year modified triple-net (NNN) lease with over 10 years remaining on the initial term where the landlord is only responsible for the roof & structure. The is an existing roof warranty in place that runs coterminous with the Initial Term of the lease. The rent increases to $132,000 on January 1, 2020, and there are 10% increases every 5 years that continue throughout the options. There are three, five-year tenant renewal options, extending the total potential remaining lease term to 25 years.

This 7-Eleven investment property is located at 2099 Grand Avenue on a hard corner of a signalized intersection. Grand Avenue boasts average daily traffic counts exceeding 31,000 vehicles. Grand Avenue intersects with Sunrise Highway which brings an average additional 56,000 vehicles into the immediate area per day. The subject property also benefits from being located in a heavily populated area. There are more than 200,000 individuals residing within a three-mile radius of the property and 473,000 individuals within a five-mile radius of the property.

The subject property benefits from being well-positioned in a highly dense retail corridor in an affluent community with over $127,000 in average household income. Major national tenants in the area include: Walgreens, Burger King, Dunkin’ Donuts, Starbucks, Bank of America, CVS Pharmacy, Best Buy, Wendy’s, Dollar Tree, Checkers as well as many more. The subject property benefits from its close proximity to several academic institutions, including Southside High School, Freeport High School and Baldwin High School in a two-mile radius, with a total enrollment exceeding 4,500 students.

Baldwin is a hamlet and census-designated place located in the town of Hempstead in Nassau County, New York, United States. Nassau County is situated in western Long Island, bordering New York City’s borough of Queens to the west, and Suffolk County to the east. It is the most densely populated and second-most populous county in New York state outside of New York City, with which it maintains extensive rail and highway connectivity, and is considered one of the central counties within the New York metropolitan area. Nassau County contains two cities, three towns, 64 incorporated villages, and more than 60 unincorporated hamlets. Nassau County has a designated police department, fire commission, and elected executive and legislative bodies. A 2012 Forbes article based on the American Community Survey reported Nassau County as the most expensive county and one of the highest income counties in the United States, and the most affluent in the state of New York, with four of the nation’s top ten towns by median income located in the county. Nassau County High School students often feature prominently as winners of the Intel International Science and Engineering Fair and similar STEM-based academic awards.

 

 

Broker of Record:  JD Parker  License #31PA1159742

 

 

 

You must be a registered user in order to download the Offering memorandum for this property.

Sign In Now| Sign Up Today

Glen Kunofsky

President, Founder
(212) 430-5115

Richard Nardi

Senior Managing Director, Investments
(212) 430-5202