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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.

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

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s) NY: 10311204479

    New York

Financing By

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.

Exclusively Listed By

Broker of Record

  • John Horowitz

    Broker of Record

    (718) 475-4300

    License(s): NY: 10311204479

    New York

Financing By

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