Well Respected Richmond Laundry on Staten Island
962 Richmond Avenue, Staten Island, NY, USA Map
Listing Price $1,850,000
| Status | Closed |
| Lease Type | Double Net |
| Property Type | Retail |
| CAP Rate | 6.3% |
| GLA (Sq. Ft.) | 4,199 |
| NOI | $116,676 |
| Lease Term Remaining | 13 Years |
| Increases | 3% Annually and 5% Annually in Option |
| Options | 1 x 5 Year |
| State (BOR) | NY |
| Broker of Record | John Horowitz |
| License # (BOR) | 10311204479 |
| Close Date | Feb 21, 2023 |
Jesse J. Limon
Marcus & Millichap
Manhattan Office
Ofc: (212) 430-5291
Cell: (574) 607-2341
License: NY: 10401271892,
IN: AB21405836
jesse.limon@marcusmillichap.com
Brian Clinton
Marcus & Millichap
Associate
Net Leased Division – East Coast
Licensed Salesperson – NY
Ofc: (718) 475-4316
Cell: (412) 337-4283
License: NY: 10401344685
brian.clinton@marcusmillichap.com
DARPAN PATEL
First Vice President, Investments
Tampa Office
Direct: (513) 878-7723
Darpan.Patel@marcusmillichap.com
License: OH SAL 2012000748
DAN YOZWIAK
First Vice President, Investments
Columbus Office
Direct: (614) 403-1094
Dan.Yozwiak@marcusmillichap.com
License: OH SAL 2008003600
Investment Highlights
- 13+ Years Remaining on a NN Lease With One, 5-Year Renewal Option
Lease is Privately Guaranteed - Minimal Landlord Responsibilities 3% Annual Rental Increases and 5% Annual Increases in the Renewal Option
- Situated in a Dense Retail Corridor Just Off of the Dr. MLK Jr. Expressway and the Bayonne Bridge
- High Visibility With Parking Lot
- Positioned Near Multiple National Tenants Such as Shop Rite, Wingstop, IHOP, Wendy’s, McDonald’s,
- 7-Eleven, Dunkin’, Dollar Tree, Plant Fitness, CVS and More
- 10 Miles From Newark Liberty International Airport
- Strong Demographics: Population Exceeds 551,000+ Within 5-Miles | Population is Projected to Increase Byin 2026
- Average Household Income Exceeds $111,500 Within 3-Miles
- Most Populous MSA in the United States: The New York City Metropolitan Area Has a Population Exceeding 8.8 Million
Investment Overview
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