New York State Police | 5354 NY-12
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New York State Police 5354 NY-12
4,215 SF Retail Building Norwich, NY 13815 £416,411 (£99/SF) 8% Net Initial Yield
Investment Highlights
- The property benefits from a lease guaranteed by the government, boasting a strong AA+ credit rating (S&P)
- The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years)
- Strategically positioned within a 50- mile radius of major cities including Birmingham, Syracuse, Utica, Cooperstown, and Oneonta.
- The site is positioned near major national tenants such as Walmart, Tractor Supply Co., Lowe’s, and Taco Bell
- The lease includes 3% annual rent increases, providing a consistent growth in Net Operating Income (NOI)
Executive Summary
The lease includes 3% annual rent increases, providing a consistent growth in Net Operating Income (NOI) and a natural hedge against
inflation. The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years), reflecting a deep-rooted commitment to this location.
inflation. The tenant has been in continuous operation at this site since the 1980’s (nearly 40 years), reflecting a deep-rooted commitment to this location.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
4,215 SF
Building Class
C
Year Built
1980
Price
£416,411
Price Per SF
£99
Net Initial Yield
8%
NOI
£33,313
Tenancy
Single
Number of Floors
1
Building FAR
0.09
Lot Size
1.06 AC
Zoning
C1 - intended to preserve and protect the County's natural resources, especially flood plain and floodway, while providing for their use and enjoyment
Parking
20 Spaces (4.74 Spaces per 1,000 SF Leased)
Frontage
92 ft on New York 12
PROPERTY TAXES
| Parcel Number | 084200-160-000-0001-019-200-0000 | Improvements Assessment | £66,508 |
| Land Assessment | £7,825 | Total Assessment | £74,333 |
PROPERTY TAXES
Parcel Number
084200-160-000-0001-019-200-0000
Land Assessment
£7,825
Improvements Assessment
£66,508
Total Assessment
£74,333
Contacts
-
Derrick Dougherty -
Nick Geaneotes -
Dougherty And Partners of Marcus & Millichap
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New York State Police | 5354 NY-12
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