Shopping Regional

AutoZone Ground Lease | Value-Add Shopping Center | 3 Retail Buildings

Listing Price: $1,750,000

Cap Rate
9.14%
Gross SF
10,900
Rentable SF
10,900
Price/Gross SF
$160.55
Lot Size
1.60 acres
Year Built
1999

Investment Overview

Marcus & Millichap is pleased to exclusively list a portfolio consisting of three retail buildings located in Binghamton (Broome County), New York. The subject property is 100 percent occupied and leased by tenants who have been in the same location for numerous years. The buildings are situated on a combined 1.40 acre lot with approximately 10,900 rentable square feet. The entire portfolio is located at the intersection of Pennsylvania Avenue and Vestal Avenue. Each building is parceled off separately. The major tenant; AutoZone, has a 30 day first right of refusal clause. AutoZone is a stand alone ground lease on separate parcel. The buildings are located in the heart of town with immediate access to Interstate 81, Route 11 and Route 434. The subject property is less than one mile from UHS Binghamton General Hospital (220 bed general and surgical facility) and less than three miles from the Binghamton University (SUNY Binghamton) campus.

Binghamton is the county seat of Broome County, New York. It lies in the states Southern Tier region near the Pennsylvania border, Binghamton is home to Binghamton University, a driving force in the community and the local economy.

Within a five-mile radius of Binghamton, the average household income is $60,004 among the 94,112 individuals who reside within a five-mile radius of the subject property.

The asking price of $1,750,000 represents a 9.07 percent cap rate.

Investment Highlights

  • Located at Signalized Intersection with Over ADTC of 30,000
  • Walking Distance to UHS Binghamton General Hospital (220 State-of-the-Art Beds)
  • Less than Three Miles from Binghamton University Campus (SUNY Binghamton)
  • Three Buildings Situated on 1.40 +/- Acre Lot with Approximately 10,900 RSF
  • AutoZone is a Stand Alone Ground Lease on a Separate Parcel
  • Portfolio Includes Three Buildings; Each Parceled Off Separately

Exclusively Listed By

Shopping Regional

AutoZone Ground Lease | Value-Add Shopping Center | 3 Retail Buildings

Listing Price: $1,750,000

Cap Rate
9.14%
Gross SF
10,900
Rentable SF
10,900
Price/Gross SF
$160.55
Lot Size
1.60 acres
Year Built
1999

Investment Highlights

  • Located at Signalized Intersection with Over ADTC of 30,000
  • Walking Distance to UHS Binghamton General Hospital (220 State-of-the-Art Beds)
  • Less than Three Miles from Binghamton University Campus (SUNY Binghamton)
  • Three Buildings Situated on 1.40 +/- Acre Lot with Approximately 10,900 RSF
  • AutoZone is a Stand Alone Ground Lease on a Separate Parcel
  • Portfolio Includes Three Buildings; Each Parceled Off Separately

Investment Overview

Marcus & Millichap is pleased to exclusively list a portfolio consisting of three retail buildings located in Binghamton (Broome County), New York. The subject property is 100 percent occupied and leased by tenants who have been in the same location for numerous years. The buildings are situated on a combined 1.40 acre lot with approximately 10,900 rentable square feet. The entire portfolio is located at the intersection of Pennsylvania Avenue and Vestal Avenue. Each building is parceled off separately. The major tenant; AutoZone, has a 30 day first right of refusal clause. AutoZone is a stand alone ground lease on separate parcel. The buildings are located in the heart of town with immediate access to Interstate 81, Route 11 and Route 434. The subject property is less than one mile from UHS Binghamton General Hospital (220 bed general and surgical facility) and less than three miles from the Binghamton University (SUNY Binghamton) campus.

Binghamton is the county seat of Broome County, New York. It lies in the states Southern Tier region near the Pennsylvania border, Binghamton is home to Binghamton University, a driving force in the community and the local economy.

Within a five-mile radius of Binghamton, the average household income is $60,004 among the 94,112 individuals who reside within a five-mile radius of the subject property.

The asking price of $1,750,000 represents a 9.07 percent cap rate.

Exclusively Listed By

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