Government
Net-Leased School - Covered Land Opportunity
450 St Marks Pl, Staten Island, NY 10301
Listing Price: $5,183,000
Investment Overview
The subject offering is an 8,928-square-foot single-story commercial building fully net-leased to the St. George School (NYC Construction Authority). The site, located on St. Marks Place on the North Shore of Staten Island, rests on an 18,100 square foot lot zoned C4-2/R6. It has a FAR of 2.43 as of right for residential (43,983 buildable square feet) and a FAR of 3.4 as of right for commercial (61,540 buildable square feet).
The lease runs through June 30, 2033, with no options to renew. This is a full corporate guarantee from New York City, with a 10 percent increase coming in July 2027. The St. George School has been operating out of this location since 1990. This site functions as a referral school, helping high school-aged
students obtain their GED certificates.
The landlord is responsible for paying the base-year taxes, as well as the insurance and repairs to the roof and structure. The tenant is responsible for paying all maintenance costs directly, as well as being responsible for all repairs/replacement to the parking lot, all utilities, and paying taxes above their base year 2012/2013.
The lot has 176 feet of frontage along St Marks Place. There is a full parking lot, with parking for 18 cars. The building has entrances on both St Marks Place and Montgomery Avenue, and it is located in an Opportunity Zone. The site is 0.5 miles (10-minute walk) from the Staten Island Ferry, and it is
surrounded by new development.
Net-Leased School - Covered Land Opportunity
Investment Highlights
- 8,928 SF Single-Tenant Property Leased to the NYC Department of Education on a Modified Gross Lease That runs Through 2033 with 3% Annual Increases.
- 18,100 SF Lot Zoned C4-2/R6 With a Total Buildable Square Footage of 61,540 SF. Covered Land Opportunity to Acquire a Minimal Management Site With Development Upside.
- Property has Parking for 18 Cars, With Entrances on two Different Streets. The Offering is a Short Walk to the Staten Island Ferry and it is Surrounded by new Commercial Developments.
Exclusively Listed By
Listing Price: $5,183,000
Investment Highlights
- 8,928 SF Single-Tenant Property Leased to the NYC Department of Education on a Modified Gross Lease That runs Through 2033 with 3% Annual Increases.
- 18,100 SF Lot Zoned C4-2/R6 With a Total Buildable Square Footage of 61,540 SF. Covered Land Opportunity to Acquire a Minimal Management Site With Development Upside.
- Property has Parking for 18 Cars, With Entrances on two Different Streets. The Offering is a Short Walk to the Staten Island Ferry and it is Surrounded by new Commercial Developments.
Investment Overview
The subject offering is an 8,928-square-foot single-story commercial building fully net-leased to the St. George School (NYC Construction Authority). The site, located on St. Marks Place on the North Shore of Staten Island, rests on an 18,100 square foot lot zoned C4-2/R6. It has a FAR of 2.43 as of right for residential (43,983 buildable square feet) and a FAR of 3.4 as of right for commercial (61,540 buildable square feet). The lease runs through June 30, 2033, with no options to renew. This is a full corporate guarantee from New York City, with a 10 percent increase coming in July 2027. The St. George School has been operating out of this location since 1990. This site functions as a referral school, helping high school-aged students obtain their GED certificates. The landlord is responsible for paying the base-year taxes, as well as the insurance and repairs to the roof and structure. The tenant is responsible for paying all maintenance costs directly, as well as being responsible for all repairs/replacement to the parking lot, all utilities, and paying taxes above their base year 2012/2013. The lot has 176 feet of frontage along St Marks Place. There is a full parking lot, with parking for 18 cars. The building has entrances on both St Marks Place and Montgomery Avenue, and it is located in an Opportunity Zone. The site is 0.5 miles (10-minute walk) from the Staten Island Ferry, and it is surrounded by new development.
Exclusively Listed By
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