255 N Broadway | Hicksville, NY 11801
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255 N Broadway
Hicksville, NY 11801
Citibank · Retail Property For Sale
Investment Highlights
- Multi-Generational New York MSA Acquisition Opportunity
- Below Market Rent with Renewal Upside
- Investment Grade Tenancy
- Strong Consumer Deposit Growth
Executive Summary
Northmarq is pleased to offer for sale to qualified investors the opportunity to purchase a leased-fee interest in the Citibank property located in Hicksville, New York (the “Property”). The Property consists of a 3,536-square-foot bank on a 0.68-acre parcel of land. Citibank is operating under an absolute net lease with zero landlord responsibilities and has occupied the premises for 40+ years. The lease is corporately guaranteed and features one (1) 5-year extension option at fair market value, permitting Citibank to occupy the Property until 2032. See Lease Abstract for full details.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Bank
Building Size
3,536 SF
Building Class
B
Year Built
1981
Price
£3,238,920
Price Per SF
£916
Net Initial Yield
7%
NOI
£226,723
Tenancy
Single
Number of Floors
1
Building FAR
0.07
Lot Size
1.20 AC
Parking
25 Spaces (8.57 Spaces per 1,000 SF Leased)
Frontage
78 ft on N Broadway Rd
Amenities
- Signage
PROPERTY TAXES
| Parcel Number | 2489-12-B-00-0170-0 | Improvements Assessment | £780 |
| Land Assessment | £24,364 | Total Assessment | £25,143 |
PROPERTY TAXES
Parcel Number
2489-12-B-00-0170-0
Land Assessment
£24,364
Improvements Assessment
£780
Total Assessment
£25,143
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