Verizon
Malone, NY
Key Details
| Price: | $496,552 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $36,000 |
| Address: | 266 West Main Street, Malone, New York 12953 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/11/2011 |
| Lease Expiration: | 10/31/2026 |
| Lease Term Remaining: | 1.9 Years |
| Lot Size: | 0.55 Acres |
| Building Size: | 4,000 SF |
| Year Built: | 2004 |
NNN Pro is pleased to present the exclusive listing for a Verizon
located at 266 West Main Street, Malone, NY 12953. The site
consists of roughly 4,000 rentable square feet of building space
on an estimated 0.55-acre parcel of land. This Verizon is subject to
a 5-year Triple Net (NNN) lease, which commenced 10/11/2011.
The current annual rent is $36,000.
About the Investment
- Bite Size Deal | The subject investment property is a low price point deal and low rent at $9/SF.
- Potential Upside | The tenant has no more options to renew, leaving flexibility to the new owner.
- Corporate Lease | Corporately Guaranteed Lease by the Largest Premium Verizon Retailer in the U.S. (Over 1,160 Locations).
- Excellent Frontage Along Highly Trafficked Thoroughfare | West Main Street brings over 25,000 vehicles daily to the subject property.
- Webster Manor Apartment Homes | The apartment complex with over 300 units is just one mile away from the subject property.
- Strong Retail Presence | The subject property benefits from its location in the center of town near many retailers including Walmart, Aldi, Sherwin-Williams, Taco Bell, Burger King, and more.
Key Details
| Price: | $496,552 |
|---|---|
| Cap Rate: | 7.25% |
| Annual Rent: | $36,000 |
| Address: | 266 West Main Street, Malone, New York 12953 |
| Property Type: | Retail |
| Lease Type: | Triple Net (NNN) |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/11/2011 |
| Lease Expiration: | 10/31/2026 |
| Lease Term Remaining: | 1.9 Years |
| Lot Size: | 0.55 Acres |
| Building Size: | 4,000 SF |
| Year Built: | 2004 |
Talk to the Pros
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.