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Shopping Strip

CVS Anchored Retail - Staten Island, NY

1125-1145 Bay St, Staten Island, NY 10305

Listing Price: $12,752,000

Cap Rate
5.45%
Gross SF
15,722
Rentable SF
15,722
Price/Gross SF
$811.09
Lot Size
1.23 acres
Year Built
1998

Investment Overview

Marcus & Millichap is pleased to present for sale the CVS Shopping Strip located at 1125-1145 Bay Street in the Rosebank neighborhood of Staten Island New York. The property comprises two multi-tenant retail buildings totaling 15,570 square feet on a generous 53,716-square foot lot with 369 feet of prime frontage along Bay Street, a major thoroughfare on Staten Island’s North Shore. A parking lot accommodating 56 vehicles further enhances the site’s accessibility and appeal.

The first building, a 10,125-square-foot freestanding structure, is anchored by CVS, which is operating on a newly extended NN lease through January 2040. Additionally, the lease’s strength is back by a corporate guarantee from CVS Health. CVS, which has operated here since 1999, recently completed a multi-million-dollar renovation and is one of the retailer’s highest-performing locations nationwide.

The second building is a 5,597-square-foot retail strip fully occupied by Dunkin’ Donuts, a nail salon, and Bubbakoo’s Burritos. Dunkin’ Donuts has been a tenant for over 25 years and recently signed a 10-year lease with 10 percent increases every three years. Bubbakoo’s Burritos, a Mexican fusion restaurant chain with 117 locations across 15 states.

Ownership recently replaced the roofs on both buildings, each covered by a 15-year warranty, ensuring minimal capital expenditure for years to come. This offering presents a rare opportunity to acquire a credit-tenant-anchored retail asset with a history of 100 percent occupancy, high-performing tenants, and redevelopment potential on 1.23 acres of land in a highly desirable New York City location.

Investment Highlights

  • Two Retail Properties Resting on a 53,716 SF Corner-to-Corner Lot With 15,570 SF of Rentable Square Footage and a 56-Car Parking Lot.
  • Anchored by CVS, Which Just Renewed for 15 Years Through 2040. This is One of the Highest Performing CVS Locations in the Country. The Site Also Has Dunkin Donuts and Bubbakoo's Burrito.
  • Trophy Staten Island Location. The Truly Rare Opportunity to Acquire a 1.25-Acre Site in New York City Anchored by One of top Performing Drug Stores in the Country.

Exclusively Listed By

Shopping Strip

CVS Anchored Retail - Staten Island, NY

Listing Price: $12,752,000

Cap Rate
5.45%
Gross SF
15,722
Rentable SF
15,722
Price/Gross SF
$811.09
Lot Size
1.23 acres
Year Built
1998

Investment Highlights

  • Two Retail Properties Resting on a 53,716 SF Corner-to-Corner Lot With 15,570 SF of Rentable Square Footage and a 56-Car Parking Lot.
  • Anchored by CVS, Which Just Renewed for 15 Years Through 2040. This is One of the Highest Performing CVS Locations in the Country. The Site Also Has Dunkin Donuts and Bubbakoo's Burrito.
  • Trophy Staten Island Location. The Truly Rare Opportunity to Acquire a 1.25-Acre Site in New York City Anchored by One of top Performing Drug Stores in the Country.

Investment Overview

Marcus & Millichap is pleased to present for sale the CVS Shopping Strip located at 1125-1145 Bay Street in the Rosebank neighborhood of Staten Island New York. The property comprises two multi-tenant retail buildings totaling 15,570 square feet on a generous 53,716-square foot lot with 369 feet of prime frontage along Bay Street, a major thoroughfare on Staten Island’s North Shore. A parking lot accommodating 56 vehicles further enhances the site’s accessibility and appeal. The first building, a 10,125-square-foot freestanding structure, is anchored by CVS, which is operating on a newly extended NN lease through January 2040. Additionally, the lease’s strength is back by a corporate guarantee from CVS Health. CVS, which has operated here since 1999, recently completed a multi-million-dollar renovation and is one of the retailer’s highest-performing locations nationwide. The second building is a 5,597-square-foot retail strip fully occupied by Dunkin’ Donuts, a nail salon, and Bubbakoo’s Burritos. Dunkin’ Donuts has been a tenant for over 25 years and recently signed a 10-year lease with 10 percent increases every three years. Bubbakoo’s Burritos, a Mexican fusion restaurant chain with 117 locations across 15 states. Ownership recently replaced the roofs on both buildings, each covered by a 15-year warranty, ensuring minimal capital expenditure for years to come. This offering presents a rare opportunity to acquire a credit-tenant-anchored retail asset with a history of 100 percent occupancy, high-performing tenants, and redevelopment potential on 1.23 acres of land in a highly desirable New York City location.

Exclusively Listed By

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