47-51 Route 303 | Tappan, NY 10983
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- LoopNet Team
47-51 Route 303
Tappan, NY 10983
Retro Fitness · Retail Property For Sale
Investment Highlights
- Retro Fitness has successfully operated in this location since 2012 and recently recommitted to this store, extending the lease an additional 5 years
- Offers significant upside in the additional income potentially generated from 8,234 s/f of a total of 11,190 s/f of basement level space
- Below market rent, a low price per s/f, rental increases and access/use of the adjacent parking field free of charge.
- Pad site to Tappan Plaza, in the final stages of a major redevelopment that includes the addition of Lidl as a grocery-anchor
- Tappan is located in Rockland County, just outside of NYC and part of the highly sought-after New York City MSA
- The NN+ lease structure makes this a passive asset to own but also offers significantly more yield vs. competing net lease investments
PROPERTY FACTS
Property Type
Retail
Property Subtype
Freestanding
Building Size
22,801 SF
Building Class
B
Year Built
1970
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.47
Lot Size
1.11 AC
Zoning
CS
Parking
47 Spaces (2.07 Spaces per 1,000 SF Leased)
Frontage
200 FT on Route 303
PROPERTY TAXES
| Parcel Number | 392489-077-015-0001-041-000-0000 | Improvements Assessment | $746,100 |
| Land Assessment | $118,600 | Total Assessment | $864,700 |
PROPERTY TAXES
Parcel Number
392489-077-015-0001-041-000-0000
Land Assessment
$118,600
Improvements Assessment
$746,100
Total Assessment
$864,700
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