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.