229 W Union St - Freestanding FOR SALE


Newark, NY 14513
$850,000 USD
713-775-8899
229 W Union St, Newark, NY for Sale
$850,000 USD
Freestanding - FOR SALE
1/2
null | 7.06% Cap Rate

229 W Union St
Newark, NY 14513


HIGHLIGHTS

  • Lease Guaranteed by Prime Comms Retail LLC: Largest AT&T Authorized Retailer in the United States
  • Located Along Main Thoroughfare of Newark, New York
  • Frontage to West Union Street
  • Triple-Net Lease

OVERVIEW

Marcus & Millichap is pleased to exclusively offer for sale a freestanding AT&T store operated by Prime Communications, the largest AT&T Authorized Retailer in the United States. The subject property is located at 229 West Union Street in Newark, New York. The AT&T features a triple-net lease, with landlord responsibilities only consisting of roof and structure repair/replacement. This 1,600-square-foot, freestanding building fronts West Union Street, which sees 10,307 vehicles per day. The AT&T site is located along the main thoroughfare of Newark. The original move-in date was 2016, and the current term extends five years from closing. The tenant has two five-year renewal options with 10 percent increases per renewal option. The lease is guaranteed by Prime Comms Retail, LLC, the largest AT&T authorized retailer in the nation (2,000 locations).

FOR SALE DETAILS

PRICE

$850,000 USD

PRICE/SF

$531 USD /SF

CAP RATE

7.06%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

AT&T - Newark, NY

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

20

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

CON

APN/PARCEL ID

68111-17-245050

ASK ABOUT THIS PROPERTY

Alex Wolansky, CCIMMarcus & MillichapMore Info
713-775-8899

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Alex Wolansky, CCIMMarcus & MillichapMore Info
713-775-8899

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