Miscellaneous
13+ Yrs. Remaining | Low Price NYC Asset | Across from Grocery | 550K+ Residents
962 Richmond Ave, Staten Island, NY 10303
Listing Price: $1,850,000
Cap Rate
6.30%
Tenant Name
RICHMOND EXPRESS LAUNDROMAT
Years Remaining On Lease
13.4
Guarantor
Private Guarantee
Rentable SF
4,200
Lease Type
Double Net
Rent Per Square Feet
$28.69
Investment Overview
Marcus & Millichap is pleased to bring to market Richmond Express Laundromat located in Staten Island, NY.
13+ Yrs. Remaining | Low Price NYC Asset | Across from Grocery | 550K+ Residents
Investment Highlights
- 13+ Years Remaining On an NN+ Lease With One, 5-Year Renewal Option
- Lease is Privately Guaranteed | Minimal Landlord Responsibilities
- 3% Annual Rental Increases and 5% Annual Increases in the Renewal Option
- The laundromat Operates from 6 AM to 12 AM, 7 Days a Week, and Offers Drop Off Laundry Services in Addition to Coin Operated Washers and Dryers
- Situated in a Dense Retail Corridor Just Off of the Dr. MLK Jr. Expressway and the Bayonne Bridge | High Visibility With Parking Lot Along Richmond Ave. (17,300+ Vehicles Per Day)
- Positioned Near Multiple National Tenants Such as Shop Rite, Wingstop, IHOP, Wendy's, McDonald's, 7-Eleven, Dunkin', Dollar Tree, Plant Fitness, CVS, and More | 10 Miles From Newark Liberty International Airport
- Strong Demographics: Population Exceeds 551,000+ Within 5-Miles | Population is Projected to Increase By in 2026 | Average Household Income Exceeds $111,500 Within 3-Miles
- Most Populous MSA in the United States: The New York City Metropolitan Area Has a Population Exceeding 8.8 Million
Miscellaneous
13+ Yrs. Remaining | Low Price NYC Asset | Across from Grocery | 550K+ Residents
Listing Price: $1,850,000
Cap Rate
6.30%
Tenant Name
RICHMOND EXPRESS LAUNDROMAT
Years Remaining On Lease
13.4
Guarantor
Private Guarantee
Rentable SF
4,200
Lease Type
Double Net
Rent Per Square Feet
$28.69
Investment Highlights
- 13+ Years Remaining On an NN+ Lease With One, 5-Year Renewal Option
- Lease is Privately Guaranteed | Minimal Landlord Responsibilities
- 3% Annual Rental Increases and 5% Annual Increases in the Renewal Option
- The laundromat Operates from 6 AM to 12 AM, 7 Days a Week, and Offers Drop Off Laundry Services in Addition to Coin Operated Washers and Dryers
- Situated in a Dense Retail Corridor Just Off of the Dr. MLK Jr. Expressway and the Bayonne Bridge | High Visibility With Parking Lot Along Richmond Ave. (17,300+ Vehicles Per Day)
- Positioned Near Multiple National Tenants Such as Shop Rite, Wingstop, IHOP, Wendy's, McDonald's, 7-Eleven, Dunkin', Dollar Tree, Plant Fitness, CVS, and More | 10 Miles From Newark Liberty International Airport
- Strong Demographics: Population Exceeds 551,000+ Within 5-Miles | Population is Projected to Increase By in 2026 | Average Household Income Exceeds $111,500 Within 3-Miles
- Most Populous MSA in the United States: The New York City Metropolitan Area Has a Population Exceeding 8.8 Million
Investment Overview
Marcus & Millichap is pleased to bring to market Richmond Express Laundromat located in Staten Island, NY.
