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40 Catherwood Rd
Ithaca, NY 14850
Target Ground Lease · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- High-Performing Target Ground Lease
- Prime Retail Location Adjacent to The Shops At Ithaca Mall
- Long-Term Operating History & Tenant Commitment
- Strong Demographics & Accessibility
EXECUTIVE SUMMARY
Landmark Investment Sales is pleased to present the opportunity to acquire the Target (Ground Lease) in Ithaca, New York. Target is strategically located at The Shops at Ithaca Mall, with nearby retailers including Best Buy, Michaels, Dick's Sporting Goods and BJ’s Wholesale. Target has successfully operated at this location for over 20 years and recently exercised the first of eight options, cementing its commitment to the site.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Department Store
Property Size
126,000 sq ft
Costar Property Class
C
Year Built
2002
Price
£4,328,817
Price per sq ft
£34.36
Yield
5.75%
NOI
£248,907
Occupancy Rate
100%
Tenancy
Multiple
Number of Floors
1
Plot ratio
0.28
Total Plot Size
10.35 ac
Use Class
comm
Parking
373 Spaces (2.96 Spaces per 1,000 sq ft Leased)
Frontage
1,302 ft on Highgate Circle
PROPERTY TAXES
| Parcel Number | 503201-047-001-0001-022-000-0000 | Improvements Assessment | £5,584,044 |
| Land Assessment | £175,787 | Total Assessment | £5,759,831 |
PROPERTY TAXES
Parcel Number
503201-047-001-0001-022-000-0000
Land Assessment
£175,787
Improvements Assessment
£5,584,044
Total Assessment
£5,759,831
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