Rent-A-Center
Gouverneur, NY
Key Details
| Price: | $510,000 |
|---|---|
| Cap Rate: | 7.79% |
| Annual Rent: | $39,714 |
| Address: | 22 Clinton Street, Gouverneur, New York 13642 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 34 Years |
|---|---|
| Lease Commencement: | 10/6/1996 |
| Lease Expiration: | 11/30/2030 |
| Lease Term Remaining: | 6.1 Years |
| Rental Increases: | Flat |
| Lot Size: | 0.64 Acres |
| Building Size: | 6,200 SF |
| Year Built: | 1950 |
| Year Renovated: | 2023 |
NNN Pro is pleased to present the exclusive listing for a Rent-A-Center located at 22 Clinton Street, Gouverneur, New York 13642. The site consists of roughly 6200 rentable square feet of building space on an estimated 0.64-acre parcel of land. This Rent-A-Center is subject to a 34-year Double Net (NN) lease, which commenced 10/6/1996. The current annual rent is $39,714 and has scheduled increases of Flat.
About the Investment
- Long-Term Double Net (NN) Lease | Over 6 years of term remaining on the initial 7-year lease with minimal landlord responsibilities.
- Strong Corporate Guarantee | The lease is subject to a strong corporate guarantee from Upbound Group (NASDAQ: UPBD). Upbound Group operates approximately 2,900 stores in the US, Puerto Rico, and Mexico.
- Long-Term Tenant and Recently Renovated | The tenant has been successfully operating at this location since 1996. The property was also recently renovated in 2023.
- Strong Traffic Counts | The subject property is situated on Clinton Street, which brings over 4,600 vehicles daily. W Main Street brings another 11,800 vehicles to the immediate area daily.
- Dense Retail Corridor | The subject property is situated in a dense retail corridor with national and local tenants. Major national tenants include Dollar General, Subway, Dunkin, McDonald's, 7- Eleven, Subway, and more.
- Compelling Academic and Medical Presence | The subject property is just a half mile away from both Gouverneur High School and RRH Gouverneur Hospital. Gouverneur High School has an enrollment of over 450 students and RRH Gouverneur Hospital has 25 beds.
Key Details
| Price: | $510,000 |
|---|---|
| Cap Rate: | 7.79% |
| Annual Rent: | $39,714 |
| Address: | 22 Clinton Street, Gouverneur, New York 13642 |
| Property Type: | Retail |
| Lease Type: | Double Net (NN) |
Property Data
| Original Lease Term: | 34 Years |
|---|---|
| Lease Commencement: | 10/6/1996 |
| Lease Expiration: | 11/30/2030 |
| Lease Term Remaining: | 6.1 Years |
| Rental Increases: | Flat |
| Lot Size: | 0.64 Acres |
| Building Size: | 6,200 SF |
| Year Built: | 1950 |
| Year Renovated: | 2023 |
Talk to the Pros
Anthony Bird
abird@nnnpro.com
License: NY: 10401306066
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.