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Autozone | Absolute Triple Net (NNN) Ground Lease

$1,355,172

298 Ulster Avenue, Saugerties, NY 12477

Pending
Last Updated: 03/02/2021

4.35

Cap Rate

58,950

NOI

Details:
Cap Rate:    4.35%
NOI:    $58,950
Building Size:    7,360 sqft
Lot Area:    1.29 acres
Lease Type:    Ground
Year Built:    2020
Price Per Sqft:    $184.12
Property Taxes, Insurance, Common Area, Roof & Structure :    Tenant’s Responsibility
Repairs, Maintenance, HVAC & Utilities :    Tenant’s Responsibility
Highlights:
  • Brand New 2020 Construction With a Long Term 20 Year Lease in Place With Four, 5 Year Options
  • Absolute Triple Net (NNN) Ground Lease With Zero Landlord Responsibilities
  • E-Commerce, Recession and COVID Proof Tenant
  • Attractive 8% Rent Increases Every 5 Years Including Option Periods
  • Located in Hudson Val ley, a High Barrier to Entry Market – Only a Two-Hour Drive From New York City
  • Strong Corporate Guarantee From AutoZone, Inc. (S&P: BBB)
  • The Rural Area of Saugerties is an Ideal Location For AutoZone’s ”Do-It-Yourself” Business Model
  • Property is Located Directly Off Interstate 87 Which is One of the Major New York Highways Running From the Bronx to the Canadian Border
  • Nearby Tenants Include: McDonald’s, Big Lots, CVS Pharmacy, Verizon, Price Chopper, Dunkin’, Family Dollar, Subway and More
Description:

Sands Investment Group is Pleased to Present Exclusively For Sale the 7,360 SF AutoZone Located at 298 Ulster Avenue in Saugerties, NY. With a Newly Constructed Building and a 20 Year Absolute Triple Net (NNN) Ground Lease, This Opportunity Provides a Secure and Attractive Best-of-Class Investment.

In Cooperation With:  Venture Retail Partners, LLC 10 Post Office Square, Suite 995
Boston, MA 02109

TREVOR MCNIVEN: Lic #10491205228
857.957.0728 | DIRECT trevor@vrpartners.com

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