47-51 Route 303 - Freestanding FOR SALE
Tappan, NY 10983 |
47-51 Route 303
Tappan, NY 10983
HIGHLIGHTS
- Retro Fitness has successfully operated in this location since 2012 and recently recommitted to this store, extending the lease an additional 5 years
- Pad site to Tappan Plaza, in the final stages of a major redevelopment that includes the addition of Lidl as a grocery-anchor
- Offers significant upside in the additional income potentially generated from 8,234 s/f of a total of 11,190 s/f of basement level space
- Tappan is located in Rockland County, just outside of NYC and part of the highly sought-after New York City MSA
- Below market rent, a low price per s/f, rental increases and access/use of the adjacent parking field free of charge.
- The NN+ lease structure makes this a passive asset to own but also offers significantly more yield vs. competing net lease investments
FOR SALE DETAILS
PRICE
-
CAP RATE
-
% LEASED
-
TENANCY
-
BUILDING DETAILS
PROPERTY NAME
Retro Fitness
PROPERTY TYPE
Retail
PROPERTY SUBTYPE
Freestanding
TOTAL BUILDING SIZE
22801
STORIES
2
YEAR BUILT
1970
SPRINKLERS
-
PARKING SPACES
47
LAND DETAILS
LAND ACRES
-
LAND SF
-
ZONING
-
APN/PARCEL ID
392489-077-015-0001-041-000-0000
