1273 Ulster Ave - Freestanding FOR SALE


Kingston, NY 12401
$990,000 USD
949-724-5552
1273 Ulster Ave, Kingston, NY for Sale
$990,000 USD
Freestanding - FOR SALE
1/6
null | 8.48% Cap Rate

1273 Ulster Ave
Kingston, NY 12401


HIGHLIGHTS

  • Low Rent and Low Price Point Investment - Long Term Upside Potential and Low Downside Risk
  • Single-Tenant Net-Leased Retail Asset – The Vitamin Shoppe - The Vitamin Shoppe has 670+ Stores Across 46 States and Territories
  • 4.9 Lease Years Remaining in Primary Term - Two 5-Year Option Periods
  • Strong Rent Increases – ~19% Bumps in 2028 & First Option - 10% Bump in Second Option
  • Positioned Along Kingston’s Busiest Retail Corridor - Ulster Ave (Route 9W) - Over 27,300 VPD
  • Demographics – Over 96,500 Residents within a 10-Mile Radius - Average Household Income Exceeding $119,000 within a 10-Mile Radius

OVERVIEW

The Snyder Carlton National Net Lease Team is pleased to offer investors an opportunity to acquire the single-tenant net-leased The Vitamin Shoppe in Kingston, NY. The Vitamin Shoppe operates over 670 locations across the country and was recently acquired by Kingswood Capital Management and Performance Investment Partners for over $193 million. The net lease has 4.9 years remaining in the primary term with two 5-year option periods, strong rent increases, and limited landlord responsibilities, making this asset ideal for an opportunistic investor seeking inflation-resistant cash flows. The rent is below market and replaceable, which offers long-term upside potential and low downside risk. The 3,000 SF building on a 0.6-acre parcel is strategically located in Kingston’s busiest retail corridor, with traffic counts along Ulster Avenue exceeding 27,300 VPD. Nearby retailers include Target, Walmart Supercenter, Sam’s Club, The Home Depot, Lowe’s Home Improvement, Hannaford, McDonald’s, Starbucks, Chipotle, Panera Bread, and many more. Kingston is positioned between New York City, which has an MSA population exceeding 20 million, and Albany, the Capital of New York. This is a great opportunity to purchase a low-price net-leased retail investment located within a strong retail corridor with limited landlord responsibilities, multiple option periods, strong rent increases, and upside potential.

FOR SALE DETAILS

PRICE

$990,000 USD

PRICE/SF

$596 USD /SF

CAP RATE

8.48%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Vitamin Shoppe

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.6 AC

LAND SF

26,136 SF

ZONING

T- Ulster

APN/PARCEL ID

5400-048.007-0001-021.000-0000

ASK ABOUT THIS PROPERTY

Jereme SnyderColliersMore Info
949-724-5552

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Jereme SnyderColliersMore Info
949-724-5552

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.