Autozone 38 Pennsylvania Ave
4,000 SF Retail Building Binghamton, NY 13903 $825,000 ($206/SF) 5.09% Cap Rate
![38 Pennsylvania Ave, Binghamton, NY for sale - Building Photo - Image 1 of 6](https://images1.loopnet.com/i2/NhBuzFyk2E15AFIQv0FXpPa69fQL9Tz5aL2JKhXCCO0/110/38-Pennsylvania-Ave-Binghamton-NY-Building-Photo-1-Large.jpg)
![38 Pennsylvania Ave, Binghamton, NY for sale - Building Photo - Image 2 of 6](https://images1.loopnet.com/i2/k3rxGo3voDhChrYJM4rDCreniEAJ0k4bYxr64otdajw/110/38-Pennsylvania-Ave-Binghamton-NY-Building-Photo-2-Large.jpg)
![38 Pennsylvania Ave, Binghamton, NY for sale - Building Photo - Image 3 of 6](https://images1.loopnet.com/i2/E1FbL3CXauuWBIa6P4fAx4iexGfLiuXQhY78L_Emjdc/110/38-Pennsylvania-Ave-Binghamton-NY-Building-Photo-3-Large.jpg)
INVESTMENT HIGHLIGHTS
- Zero Landlord Responsibilities | Absolute Triple Net (NNN) Ground Lease Structure
- Automotive Oriented Tenant | Protected Against The Threat Of E-Commerce And Recession
- Dense Retail Trade Area | 1.4M Square Feet Of Retail Within A 1 Mile Radius
- Strong Corporate Guaranty | AutoZone (S&P: BBB) Operates 6,100+ Stores Nationally
- Extremely Loyal Customer Base | 48.6% Of Customer Have Visited 5 Or More Times
- Dense Demographics | Over 97,000 Full-Time Residents Within 5 Mile Radius
EXECUTIVE SUMMARY
SAB Capital is pleased to present AutoZone in Binghamton, NY, less than a 1 mile from downtown Binghamton. The lease features a triple-net (NNN) ground lease structure and is corporately backed by AutoZone Corporation which operates 6,100+ locations nationally. The subject property boasts strong location fundamentals having 97,000 full time residents in a 5-mile radius and is located across the street from UHS Binghamton General Hospital.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Freestanding
Building Size
4,000 SF
Building Class
C
Year Built
1999
Price
$825,000
Price Per SF
$206
Cap Rate
5.09%
NOI
$42,000
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
0.49 AC
Frontage
AMENITIES
- Bus Line
- Pylon Sign
- Signage
Walk Score®
Very Walkable (83)
NEARBY MAJOR RETAILERS
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PROPERTY TAXES
Parcel Number | 030200-160-072-0004-011-000-0000 | Improvements Assessment | $198,200 |
Land Assessment | $61,800 | Total Assessment | $260,000 |