Verizon
Geneva, NY
Key Details
| Price: | $595,000 |
|---|---|
| Cap Rate: | 5.84% |
| Annual Rent: | $34,775 |
| Address: | 350 Hamilton Street, Geneva, New York 14456 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 11/30/2006 |
| Lease Expiration: | 7/31/2027 |
| Lease Term Remaining: | 2.6 Years |
| Rental Increases: | N/A |
| Lot Size: | 0.16 Acres |
| Building Size: | 1,437 SF |
| Year Built: | 1940 |
| Year Renovated: | 2006 |
NNN Pro is pleased to present the exclusive listing for a Verizon located at 350 Hamilton Street, Geneva, New York 14456. The site consists of roughly 1437 rentable square feet of building space on an estimated 0.16-acre parcel of land. This Verizon is subject to a 20-year Triple Net (NNN) lease, which commenced 11/30/2006. The current annual rent is $34,775 and has scheduled increases of N/A.
About the Investment
- Low Price Point | The subject investment property is available for a low price point, for great underlying real estate.
- Potential Upside | The current tenant of the subject property has exhausted their renewal options, leaving flexibility to the new owner.
- Adjacent Pad to Wegmans | The subject investment property is located next to Wegmans that has over 1.4M visitors a year according to Placer.ai.
- Corporate Lease | The lease is corporately guaranteed by the largest premium Verizon retailer in the U.S. (Over 1,160 locations).
About the Location
- Strong Frontage & High Traffic Counts | The subject investment property is strategically located along Hamilton Rd, which receives an average traffic count of over 19,560 vehicles per day.
- Dense Retail Corridor | The subject property is located in a dense retail corridor with a mix of local and national tenants including, Wegmans, McDonald's, Mavis Discount Tire, Tractor Supply Co., Wendy's, Tim Hortons, Advance Auto Parts, Arby's, Valvoline, and more.
- Town & Country Plaza | Town & Country Plaza The subject property is located directly across the street from Town & Country Plaza which has national tenants including, Staples, Harbor Freight, H&R Block, and more.
- Holiday Manor Apartments | The subject investment property is lcoated in clsoe proximity to the Holiday Manor Apartment Complex, which have over 105 residential units.
Key Details
| Price: | $595,000 |
|---|---|
| Cap Rate: | 5.84% |
| Annual Rent: | $34,775 |
| Address: | 350 Hamilton Street, Geneva, New York 14456 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 20 Years |
|---|---|
| Lease Commencement: | 11/30/2006 |
| Lease Expiration: | 7/31/2027 |
| Lease Term Remaining: | 2.6 Years |
| Rental Increases: | N/A |
| Lot Size: | 0.16 Acres |
| Building Size: | 1,437 SF |
| Year Built: | 1940 |
| Year Renovated: | 2006 |
Talk to the Pros
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
Cassandra Mosser
cmosser@nnnpro.com
License: AZ: SA677563000
Broker of Record
Glen Kunofsky
NNN Properties, LLC
License: 49KU1129178
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This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.