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4796 Commercial Dr
1.54 Acres of Commercial Land Offered at $3,710,000 in New Hartford, NY 13413
Investment Highlights
- Tenant pays utilities, taxes, and maintains all aspects of the premises
- Ideal, management-free investment for a passive investor
- No landlord responsibilities
Executive Summary
7 Brew recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years through the initial term, and at the beginning of each option period.
Take 5 Oil Change signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years through the initial term, and at the beginning of each option period.
The tenants have a lease structure that grows NOI and hedges against inflation. The leases are absolute NNN with zero landlord responsibilities, making it an ideal, management free investment opportunity for a passive investor.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
-
|
-
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Effective Gross Income | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
| Price | $3,710,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Commercial |
| No. Lots | 1 | Total Lot Size | 1.54 AC |
| Price | $3,710,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Total Lot Size | 1.54 AC |
1 Lot Available
Lot
| Price | $3,710,000 | Lot Size | 1.54 AC |
| Price Per AC | $2,409,091 |
| Price | $3,710,000 |
| Price Per AC | $2,409,091 |
| Lot Size | 1.54 AC |
Developed lot with two Absolute NNN tenants
Description
Both tenants are located at the signalized entrance to New Hartford Consumer Square, a 500,000 SF Super Regional Power Center. The site sees almost 25,000 vehicles a day. New Hartford Consumer Square is anchored by Walmart. Other national tenants in the center include TJ Maxx, PetSmart, Barnes & Noble, Best Buy, Five Below, Sierra, Michaels, Chipotle, Starbucks, Applebee’s, and Jersey Mike’s. The available investment properties are located in a prime location in the New Hartford Commercial Drive retail corridor, which serves and draws from a six-county region. Other nearby national/credit tenants include ALDI, Lowe’s, Kohls, At Home, Hobby Lobby, Hannaford grocery, Market 32 grocery, Party City, Planet Fitness, Target, and more, furthering increasing consumer traffic to the site. The 5 Mile radius ring has over 100,000 people in it, with a median household income of $91,473.
PROPERTY TAXES
| Parcel Number | 304889 317.013-3-18.3 | Improvements Assessment | $0 (2023) |
| Land Assessment | $50,000 (2023) | Total Assessment | $50,000 (2023) |
PROPERTY TAXES
zoning
| Zoning Code | Retail Business |
| Retail Business |
Presented by
4796 Commercial Dr
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