Goodyear
Watertown, NY
Key Details
| Price: | $3,553,846 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $231,000 |
| Address: | 1240 Arsenal Street, Watertown, New York 13601 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 3/1/2017 |
| Lease Expiration: | 2/29/2032 |
| Lease Term Remaining: | 6.8 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.72 Acres |
| Building Size: | 6,117 SF |
| Year Built: | 2016 |
NNN Pro is pleased to present the exclusive listing for a Goodyear located at 1240 Arsenal Street, Watertown, New York 13601. The site consists of roughly 6117 rentable square feet of building space on an estimated 0.72-acre parcel of land. This Goodyear is subject to a 15-year Triple Net (NNN) lease, which commenced 3/1/2017. The current annual rent is $231,000 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Strong NNN Lease | The site is subject to a triple net lease with the Landlord only being responsible for roof and structure.
- Strong Corporate Guarantee | Goodyear Tire & Rubber Company has over 570 company-owned stores nationwide.
- 20 Years of Renewal Options | There are 4, 5-year renewal options, providing a secure and long-term source of income.
- Attractive Rental Increases | The subject investment property features 10% rental increases every 5 years, hedging against inflation.
Key Details
| Price: | $3,553,846 |
|---|---|
| Cap Rate: | 6.50% |
| Annual Rent: | $231,000 |
| Address: | 1240 Arsenal Street, Watertown, New York 13601 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 3/1/2017 |
| Lease Expiration: | 2/29/2032 |
| Lease Term Remaining: | 6.8 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.72 Acres |
| Building Size: | 6,117 SF |
| Year Built: | 2016 |
Talk to the Pros
Cassandra Mosser
cmosser@nnnpro.com
License: AZ: SA677563000
Glen Kunofsky
gkunofsky@nnnpro.com
License: NY: 49KU1129178
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.