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Net Lease

Sunbelt Rentals

369 Park Ave, South Corning, NY 14830

Listing Price: $1,980,000

Cap Rate
8.00%
Gross SF
12,200
Price/Gross SF
$162.30
Lot Size
3.16 acres
Year Built
1987
Rentable SF
12,200

Investment Overview

Marcus & Millichap is pleased to present this Sunbelt Rentals property located off Interstate 86 on Park Avenue (also known as New York State Route 225) in Corning, New York. The subject property is a 12,200-square-foot facility sitting on 3.16 acres. There are approximately three and one-half years remaining, and the lease offers two, five-year renewal options with a 10 percent rent increase in each option. Sunbelt Rentals, Inc. is one of the largest equipment rental companies in North America and backed by a network of more than 900 locations, Sunbelt Rentals successfully services a variety of customers—from those in the commercial, residential, industrial, municipal, and specialized service industries, to weekend do-it-yourselfers. Sunbelt’s extensive fleet exceeds $10 billion and includes general construction equipment, trench shoring, scaffolding, remediation & restoration equipment, and more. Designed to serve distinct customer segments requiring a high level of technical expertise, Sunbelt Rentals offer a highly diversified product mix, as well as trained experts. Corning is a city in Steuben County, New York, on the Chemung River. The city is best known as the headquarters of Fortune 500 company Corning Incorporated, formerly Corning Glass Works, as manufacturer of glass and ceramic products for industrial, scientific and technical uses. The city of Corning is a vibrant community with a sophisticated small-town feel that takes pride in quality, education, diverse cultures, an abundance of arts, family values and an excellent quality of life. Major employers include Corning Incorporated, Siemens, Guthrie Corning Hospital, Corelle Brands, Corning Community College and Wegmans.

Investment Highlights

  • Day One 8.00% Cap Rate
  • 3+ Years of Lease Term Remaining
  • 10% Rent Increase Upon Renewal
  • Retail Curb Appeal

Exclusively Listed By

Listing Price: $1,980,000

Cap Rate
8.00%
Gross SF
12,200
Price/Gross SF
$162.30
Lot Size
3.16 acres
Year Built
1987
Rentable SF
12,200

Investment Highlights

  • Day One 8.00% Cap Rate
  • 3+ Years of Lease Term Remaining
  • 10% Rent Increase Upon Renewal
  • Retail Curb Appeal

Investment Overview

Marcus & Millichap is pleased to present this Sunbelt Rentals property located off Interstate 86 on Park Avenue (also known as New York State Route 225) in Corning, New York. The subject property is a 12,200-square-foot facility sitting on 3.16 acres. There are approximately three and one-half years remaining, and the lease offers two, five-year renewal options with a 10 percent rent increase in each option. Sunbelt Rentals, Inc. is one of the largest equipment rental companies in North America and backed by a network of more than 900 locations, Sunbelt Rentals successfully services a variety of customers—from those in the commercial, residential, industrial, municipal, and specialized service industries, to weekend do-it-yourselfers. Sunbelt’s extensive fleet exceeds $10 billion and includes general construction equipment, trench shoring, scaffolding, remediation & restoration equipment, and more. Designed to serve distinct customer segments requiring a high level of technical expertise, Sunbelt Rentals offer a highly diversified product mix, as well as trained experts. Corning is a city in Steuben County, New York, on the Chemung River. The city is best known as the headquarters of Fortune 500 company Corning Incorporated, formerly Corning Glass Works, as manufacturer of glass and ceramic products for industrial, scientific and technical uses. The city of Corning is a vibrant community with a sophisticated small-town feel that takes pride in quality, education, diverse cultures, an abundance of arts, family values and an excellent quality of life. Major employers include Corning Incorporated, Siemens, Guthrie Corning Hospital, Corelle Brands, Corning Community College and Wegmans.

Exclusively Listed By

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