Investment Overview

The subject offering is a 17,734 SF single-story retail property located on Forest Avenue in Staten Island, NY. The property is 100% occupied by Pep Boys, which has just under six months remaining on a 15-year absolute NNN lease, with three (5) five-year options to renew. Pep Boys has 1.5% annual increases. This is one of the highest revenue generating Pep Boys locations on the East Coast. The property rests on a 47,160 SF lot, that runs the full city block on Forest Avenue, from Simonson Street to Van Name Avenue. The site is zoned C8-1, allowing for all automotive-related uses. It has an FAR of 1, and therefore has 29,239 SF of additional buildable square footage. The property has parking for 68 cars, and it has curb cuts for ingress and egress on both Forest Avenue and Simonson Avenue. The site has 334 feet of retail frontage on Forest Avenue, one of the most heavily traveled retail streets on Staten Island. The site is surrounded by national retailers, including McDonald's, Dairy Queen, CVS, Advance Auto Parts, Planet Fitness, 7-Eleven, Shop Rite and IHOP. This is the unique opportunity to acquire a 17,734 SF building with incredible frontage resting on just over an acre of land on a major roadway in NYC. Pep Boys has a full corporate guarantee on the site. Pep Boys has just over 930 US locations, with revenue last year approaching $2.1 Billion