7-9 Hillside Ave - Convenience Store FOR SALE


Ny, NY 10040
$1,450,000 USD
914-424-2314
7-9 Hillside Ave, Ny, NY for Sale
$1,450,000 USD
Convenience Store - FOR SALE
1/28
null | 5.71% Cap Rate

7-9 Hillside Ave
Ny, NY 10040


HIGHLIGHTS

  • NNN Covered Land Play with Future Development Potential
  • a 2,500-square-foot, single-story commercial building located in the Fort George section of Upper Manhattan, just off Broadway
  • NNN Lease Through March 2031 – Tenant is responsible for 100% of real estate taxes, utilities and water
  • R7-2 Zoning | ~ 8,600 buildable SF (as-of-right) & 12,525 buildable SF (city-of-yes)
  • 3% Annual Rent Increases beginning in Year 3

OVERVIEW

Investment Property Realty Group (IPRG) has been exclusively retained to sell 7-9 Hillside Avenue, a 2,500-square-foot, single-story commercial building located in the Fort George section of Upper Manhattan, just off Broadway. The property is fully occupied under a triple-net (NNN) lease through March 2031, providing investors with stable in-place cash flow and minimal landlord responsibilities. In addition to the current income, the property offers significant long-term upside with substantial unused development rights. HIGHLIGHTS • NNN Lease Through March 2031 – Tenant is responsible for 100% of real estate taxes, utilities and water. • 3% Annual Rent Increases beginning in Year 3. • R7-2 Zoning | ~ 8,600 buildable SF (as-of-right) & 12,525 buildable SF (city-of-yes) • Development Rights Preserved During Lease Term – Lease permits ownership to develop, enlarge or vertically expand the existing building, including adding floors or converting the property to mixed-use, without tenant consent.

FOR SALE DETAILS

PRICE

$1,450,000 USD

PRICE/SF

$1,114 USD /SF

CAP RATE

5.71%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Convenience Store

ADD'L SUBTYPES

Supermarket

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1960

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.06 AC

LAND SF

2,483 SF

ZONING

R7-2, New York

APN/PARCEL ID

2170-0104

ASK ABOUT THIS PROPERTY

Robert RappaInvestment Property Realty GroupMore Info
914-424-2314

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Robert RappaInvestment Property Realty GroupMore Info
914-424-2314

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