Deer Park, NY - Multi-Tenant Industrial

Description:

SRS National Net Lease is pleased to offer the opportunity to acquire the fee simple interest (land & building ownership) in a multi-tenant, industrial building investment property located in Deer Park, New York. The asset currently features a diverse mix of 13 tenants covering a variety of different industries. Despite being 100% occupied, the subject property has opportunity for rent growth and increased NOI due to below market rents. The building is zoned light industrial and has a brand-new, 20-year roof warranty, several new HVAC units, as well as new tenant signage.

The subject property is located near the intersection of State Highway 231 and Grand Boulevard which combine to average over 50,200 vehicles passing by daily. Grand Boulevard, is the major retail thoroughfare serving the city of Deer Park. The site is also located near Sagtikos Parkway, which averages over 97,000 vehicles passing every day. The asset is located in close proximity to the Tanger Outlets Deer Park that features national/credit tenants including Nike, Adidas, Vineyard Vines, J. Crew, Athleta, Bath & Body Works, and many others. The asset is near a Kohl’s and Stop & Shop anchored center that includes other national/credit tenants such as Leslie’s, Panera Bread, and Applebee’s. The property is in the center of a primary industrial and retail corridor with other nearby national/credit tenants including The Home Depot, United Rentals, Allegiant Health, Arma Container Corp, Starbucks, Texas Roadhouse, McDonald’s, Chipotle, and more, further increasing consumer traffic to the site. The 5-mile trade area is supported by a population of over 312,400 residents and 128,800 employees with an affluent average household income of $165,457.