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Limon Net Lease Group

Limon Net Lease Group

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Well Respected Richmond Laundry on Staten Island

962 Richmond Avenue, Staten Island, NY, USA Map
Contact Us

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

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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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Any projections, opinions, assumptions or estimates used herein are for example purposes only and do not represent the current or future performance of the property. Marcus & Millichap Real Estate Investment Services is a service mark of Marcus & Millichap Real Estate Investment Services, Inc. © 2020 Marcus & Millichap and Limon Net Lease Group

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