391 Jericho Tpke - Bank FOR SALE


Jericho, NY 11753
$7,359,794 USD
703-477-1315
391 Jericho Tpke, Jericho, NY for Sale
$7,359,794 USD
Bank - FOR SALE
1/9
null | 4.85% Cap Rate

391 Jericho Tpke
Jericho, NY 11753


HIGHLIGHTS

  • NNN Ground Lease with Renewal Options | 10% Rent Increases Every 5 Years | FMV Increases in the Four, 5-Year Renewal Options
  • Impressive Operating History of 10+ Years | Impressive Deposit Base in Excess of $81M as of June 30, 2024
  • Located along Jericho Turnpike (30,706 VPD), feet from its interchange with NY-106 (54,798 VPD) and the on-ramp to I-495 (151,154 VPD).
  • Strategically located adjacent to The Manors Neighborhood ($800Ks) and the 130,296 SF Jericho Commons (Marshalls, Whole Foods Market, CVS, etc.).
  • Affluent Demographics | Nassau County Location | Over 29,000+ Households within a 3-Mile Radius | Average Annual HH Income of $227,771 within 3-Miles
  • 27 Miles west of Manhattan | New York-Newark-Jersey City, NY-NJ-PA MSA Advantage (MSA Population: 19.6M+).

OVERVIEW

The CBRE Net Lease Property Group is pleased to offer for sale the ±9.9-year TD Bank NNN Ground Lease situated on 0.47 acres in Jericho, New York — part of the New York-Newark-Jersey City, NY-NJ-PA MSA (MSA Population: 19.6M+). The ground lease features 10% rent increases every five years and fair market value increases in each of the four, 5-year renewal options. This TD Bank branch has operated for over 10 years and boasts an impressive deposit base in excess of $81 million as of June 30,2024.

FOR SALE DETAILS

PRICE

$7,359,794 USD

PRICE/SF

$1,251 USD /SF

CAP RATE

4.85%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

TD Bank

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Bank

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2016

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

-

APN/PARCEL ID

2489-12-A-00-1095-0

ASK ABOUT THIS PROPERTY

Thomas CarrCBREMore Info
703-477-1315

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Thomas CarrCBREMore Info
703-477-1315

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