Address: 1121 Avenue J, Brooklyn, New York, United States 11230
Lease Type: Triple-Net (NNN)
Annual Rent: $491,700
Net Operating Income: $491,700
Lease Term Remaining: 20
Options: Five (5), Five (5) Year Option
Rentable Sq/Ft: 7,012 SF
Rent Sq/Ft: $70.12
The subject investment is the opportunity to acquire a net-leased Bank of America. The asset is 100% leased to Bank of America with approximately 20-years remaining on the initial term of the 20-year triple-net (NNN) lease. This Bank of America provides an investor with a prime New York City asset in the heart of Brooklyn, New York City’s most populated borough. The asset offers the owner an opportunity to purchase a best of class location generational asset with a credit tenant.
The building features three floors (including a cellar) with a total of 7,012 square feet of interior space. The annual net operating income is $491,700 annually ($40,975 monthly) and features increases in year 4, year 7, year 11, and year 16. The asset is conveniently located on the corner of Avenue J and East 12th Street, which experience unrivaled foot traffic coupled with exceptional subway access in one of the most growing and historical neighborhoods in NYC.