7-Eleven
Hempstead, NY
Key Details
| Price: | $2,700,000 |
|---|---|
| Cap Rate: | 5.50% |
| Annual Rent: | $148,500 |
| Address: | 1 Jerusalem Avenue, Hempstead, New York 11550 |
| Property Type: | Retail |
| Lease Type: | Ground |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/31/2018 |
| Lease Expiration: | 10/31/2033 |
| Lease Term Remaining: | 8.5 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.47 Acres |
| Building Size: | 2,995 SF |
| Year Built: | 2018 |
NNN Pro is pleased to present the exclusive listing for a 7-Eleven located at 1 Jerusalem Avenue, Hempstead, New York 11550. The site consists of roughly 2995 rentable square feet of building space on an estimated 0.47-acre parcel of land. This 7-Eleven is subject to a 15-year Ground lease, which commenced 10/31/2018. The current annual rent is $148,500 and has scheduled increases of 10.00% Every 5 Years.
About the Investment
- Long Term NNN Investment with Options | 9 years of term remaining on an original 15-year Lease, with 4, 5-year extension options.
- Corporate Guaranteed Asset | The lease is guaranteed by 7-Eleven, Inc. an outstanding A-rated credit (S&P) with decades of successful operations.
- Gas Station and Convenience Store Model | The subject property benefits from multiple streams of diversified revenue, including a gas station with 4 gasoline pumps and a 2,995 sqft. convenience Store.
- Strong Real Estate Fundamentals | Subject Property is situated at a high traffic, high visibility, lighted intersection in a population-dense neighborhood and retail corridor; directly en route to some of the most highly trafficked retail outlets in New York, e.g. Roosevelt Field Mall.
- Attractive Rental Escalations During Option Period | The lease is subject to 10% escalations every 5 years.
Key Details
| Price: | $2,700,000 |
|---|---|
| Cap Rate: | 5.50% |
| Annual Rent: | $148,500 |
| Address: | 1 Jerusalem Avenue, Hempstead, New York 11550 |
| Property Type: | Retail |
| Lease Type: | Ground |
Property Data
| Original Lease Term: | 15 Years |
|---|---|
| Lease Commencement: | 10/31/2018 |
| Lease Expiration: | 10/31/2033 |
| Lease Term Remaining: | 8.5 Years |
| Rental Increases: | 10.00% Every 5 Years |
| Lot Size: | 0.47 Acres |
| Building Size: | 2,995 SF |
| Year Built: | 2018 |
Talk to the Pros
Richard Nardi
rnardi@nnnpro.com
License: NY: 10401294015
Connor Crovello
ccrovello@nnnpro.com
License: NY: 10401386312
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.