Verizon | 266 W Main St
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Verizon 266 W Main St
4,000 SF Retail Building Malone, NY 12953 $496,552 ($124/SF) 7.25% Cap Rate
Investment Highlights
- Bite Size Deal | The subject investment property is a low price point deal and low rent at $9/SF.
- Corporate Lease | Corporately Guaranteed Lease by the Largest Premium Verizon Retailer in the U.S. (Over 1,160 Locations).
- Webster Manor Apartment Homes | The apartment complex with over 300 units is just one mile away from the subject property.
- Potential Upside | The tenant has no more options to renew, leaving flexibility to the new owner.
- Excellent Frontage Along Highly Trafficked Thoroughfare | West Main Street brings over 25,000 vehicles daily to the subject property.
Executive Summary
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.
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.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Storefront
Building Size
4,000 SF
Building Class
C
Year Built
2004
Price
$496,552
Price Per SF
$124
Cap Rate
7.25%
NOI
$36,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
0.55 AC
Opportunity Zone
Yes
Zoning
Cu - Central commerical zoning.
Parking
24 Spaces (6 Spaces per 1,000 SF Leased)
Frontage
134 FT on West Main Street
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 164801-112-031-0005-004-000-0000 | Improvements Assessment | $200,000 |
| Land Assessment | $100,000 | Total Assessment | $300,000 |
PROPERTY TAXES
Parcel Number
164801-112-031-0005-004-000-0000
Land Assessment
$100,000
Improvements Assessment
$200,000
Total Assessment
$300,000
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Verizon | 266 W Main St
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