2801 Guilderland Ave
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2801 Guilderland Ave
13,225 SF Retail Building Rotterdam, NY 12306 $6,920,000 ($523/SF) 5.47% Cap Rate
INVESTMENT HIGHLIGHTS
- Approximately 20 Years Remaining | Options To Extend | Investment Grade Tenant (S&P: BBB) | Top 84th Percentile
- Offered Free & Clear or with CTL Zero Cash Flow Financing | Tax Advantages and Passive Equity Growth
- Strong Demographics in 5-Mile Trade Area
- Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
- Signalized, Hard Corner Intersection | Dense Retail Corridor | Nearby Apartment Complexes | Residential Consumer Base
EXECUTIVE SUMMARY
SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in an absolute NNN leased, freestanding, CVS investment property located in Rotterdam, New York (Albany MSA). The tenant has approximately 20 years remaining with 10 (5-year) options to extend, demonstrating their long-term commitment to the site. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management free investment opportunity for a passive investor. The asset includes a Credit Tenant Lease (CTL) zero cash flow financing which may be assumed, which also includes a paydown/readvance feature allowing 1031 exchange investors to pull cash out from the transaction. CVS Pharmacy is America’s leading retail pharmacy with nearly 10,000 locations across 49 states.
The asset is strategically located at the signalized, hard corner intersection of Guilderland Avenue and State Highway 7 which supports over 25,000 vehicles per day. Furthermore, the site benefits from nearby access to Interstate 890 (43,200 VPD), making this an ideal, centralized location with easy commutes. Located in a dense retail corridor, the subject property is within close proximity from multiple national/credit tenants including Walmart Supercenter, Price Chopper, Aldi, Planet Fitness, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Furthermore, the site is ideally positioned within walking distance from multiple apartment complexes including Draper Lofts (111 units), The Residences at Vista Square (208 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 136,000 residents and 60,000 daytime employees who earn an average household income of more than $99,000.
The asset is strategically located at the signalized, hard corner intersection of Guilderland Avenue and State Highway 7 which supports over 25,000 vehicles per day. Furthermore, the site benefits from nearby access to Interstate 890 (43,200 VPD), making this an ideal, centralized location with easy commutes. Located in a dense retail corridor, the subject property is within close proximity from multiple national/credit tenants including Walmart Supercenter, Price Chopper, Aldi, Planet Fitness, Dollar Tree, and more. Strong tenant synergy increases consumer draw to the immediate subject trade area and promotes crossover tenant exposure to the site. Furthermore, the site is ideally positioned within walking distance from multiple apartment complexes including Draper Lofts (111 units), The Residences at Vista Square (208 units), and more, providing a direct residential consumer base from which to draw. The 5-mile subject trade area is supported by more than 136,000 residents and 60,000 daytime employees who earn an average household income of more than $99,000.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,225 SF
Building Class
B
Year Built
2016
Price
$6,920,000
Price Per SF
$523
Cap Rate
5.47%
NOI
$378,207
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.75 AC
Zoning
B-1 - Retail Business District
Parking
59 Spaces (4.46 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
- Air Conditioning
Walk Score®
Very Walkable (71)
NEARBY MAJOR RETAILERS
CONTACTS
-
John Redfield -
Britt Raymond -
Joe Chichester -
Kyle Zimmer -
SRS Real Estate Partners
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2801 Guilderland Ave
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