Speedway | 17yrs Remain Corp Abs NNN Grd Lse | 351 Southern Blvd
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Speedway | 17yrs Remain Corp Abs NNN Grd Lse 351 Southern Blvd
4,600 SF Retail Building Albany, NY 12209 $5,000,000 ($1,087/SF) 5% Cap Rate
Investment Highlights
- Approximately 17 Years Remaining | Options To Extend | Scheduled Rental Increases
- Signalized, Hard-Corner Intersection | Interstate 787 (85,400 VPD) | Excellent Visibility | Significant Street Frontage | Large Pylon Sign
- Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area
- Absolute NNN | Ground Lease | Zero Landlord Responsibilities
- Strong National/Credit Tenant Presence | Retail Corridor
Executive Summary
SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Speedway investment property located in Albany, New York. The tenant has approximately 17 years remaining on its 20-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The property also includes a diesel station for semi-trucks.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
4,600 SF
Building Class
B
Year Built
2021
Price
$5,000,000
Price Per SF
$1,087
Cap Rate
5%
NOI
$250,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.03
Lot Size
3.03 AC
Opportunity Zone
Yes
Zoning
MUCH
Parking
23 Spaces (5 Spaces per 1,000 SF Leased)
Frontage
848 FT on Southern Boulevard
Amenities
- Corner Lot
- Dedicated Turn Lane
- Freeway Visibility
- Pylon Sign
- Signage
- Signalized Intersection
- Air Conditioning
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Speedway | 17yrs Remain Corp Abs NNN Grd Lse | 351 Southern Blvd
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