899 Granville Payne Ave - Retail FOR SALE


Brooklyn, NY 11207- East New York
$4,547,000 USD
973-632-1386
899 Granville Payne Ave, Brooklyn, NY for Sale
$4,547,000 USD
Retail - FOR SALE
1/11
null | 4.75% Cap Rate

899 Granville Payne Ave
Brooklyn, NY 11207
East New York


HIGHLIGHTS

  • New 15-Year Lease | Options To Extend | 10% Rental Increases | Corporate Tenant | Strong Store Performance
  • Absolute NNN | Fee Simple Ownership | Zero Landlord Responsibilities
  • Established Commercial Corridor | Premier Retail Node
  • Brooklyn Market Fundamentals | Strong 5-Mile Demographics
  • Supply-Constrained Brooklyn Market | Rare NYC Net Lease Offering
  • Strong Frontage On Pennsylvania (Granville Payne) Avenue | Drive-Thru Equipped | Excellent Visibility & Access

OVERVIEW

SRS Capital Markets is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a White Castle sale-leaseback investment property located in Brooklyn, New York. At close of escrow, White Castle System, Inc. will execute a new 15-year absolute NNN lease with four (4) additional 5-year renewal options, providing long-term contractual income with zero landlord responsibilities. The lease will feature scheduled 10% rental increases every five years throughout the primary term and at the beginning of each renewal option, driving NOI growth and providing a hedge against inflation. White Castle System, Inc. is the corporate entity behind White Castle, an established national brand with more than 336 locations. The subject property has also demonstrated strong store-level performance, ranking in the 92nd percentile nationally among comparable White Castle locations according to Placer.ai.

FOR SALE DETAILS

PRICE

$4,547,000 USD

PRICE/SF

$1,206 USD /SF

CAP RATE

4.75%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

White Castle | Sale-Leaseback

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1987

SPRINKLERS

-

PARKING SPACES

10

LAND DETAILS

LAND ACRES

1.55 AC

LAND SF

67,518 SF

ZONING

M1-1

APN/PARCEL ID

04368-0016

ASK ABOUT THIS PROPERTY

Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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