Goodyear 1240 A Arsenal St
6,117 SF Retail Building Watertown, NY 13601 $3,666,666 ($599.42/SF) 6.30% Cap Rate
INVESTMENT HIGHLIGHTS
- Strong NNN Lease | The site is subject to a triple net lease with the Landlord only being responsible for roof and structure.
- 20 Years of Renewal Options | There are 4, 5-year renewal options, providing a secure and long-term source of income.
- Strong Corporate Guarantee | Goodyear Tire & Rubber Company has over 570 company-owned stores nationwide.
- Attractive Rental Increases | The subject investment property features 10% rental increases every 5 years, hedging against inflation.
EXECUTIVE SUMMARY
NNN Pro is pleased to present the exclusive listing for a Goodyear located at 1240 Arsenal Street, Watertown, NY . The site consists of roughly 6,117 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.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
6,117 SF
Building Class
B
Year Built
2016
Price
$3,666,666
Price Per SF
$599.42
Cap Rate
6.30%
NOI
$231,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.72 AC
Opportunity Zone
Yes
Zoning
NB - New Business
Frontage
103’ on Arsenal St
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (88)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 221800-007-000-0002-101-000-0000 | Improvements Assessment | $511,100 |
| Land Assessment | $70,000 | Total Assessment | $581,100 |
