Property details
Lease Property, Northeast Region
Property Description
Lease Property with Corporate signature from Starbucks Coffee Company
Located on the South East Corner of W. Genesee Street and N. Burdick Street in Fayetteville, NY, a high end suburb of Syracuse, NY. The site is across from the Fayetteville Town Center (anchored by Target, Kohls, TJ Maxx, Stickley Furniture, P&C Fresh Market, Carrabbas and Bonefish Grill).
Freestanding Starbucks lease property location. The property has a bet lease to Starbucks for a 10 year term. 1,274 sf building with 17 parking spaces. The lease calls for the landlord to have no maintenance responsibilities on the property except roof and structure. Tenant self administers property CAM. New roof with warranty installed as part of renovation for Starbucks.
Images
Highlights
- Status:
- Available
- Price:
- $1,275,000
- PSF:
- $1,001
- Cap Rate:
- 6.86%
- Annual Rent:
- $87,500
- Rent Increases:
- No increases until lease renews in 2015
Property Information
- Building Size:
- 1,274 sq.ft.
- Property Type:
- Net Lease
- Industry Type:
- Restaurant
- Units/Spaces:
- 1
- Land Area:
- 0.24 acres
- Purchase Tenure:
- Fee Simple
Lease information
- Tenant:
- Starbucks Coffee Company
- Lease Type:
- Modified NNN
- Lease Commencement:
- 5/2/2005
- Lease Expiration:
- 6/1/2015
- Lease Term:
- 10 years
- Years Remaining:
- 7 years
- Landlord Responsibilities:
- No day to day responsibilities. Roof and structure only. Roof new in 2005. Building is pre-fab steel frame building (former C-store bldg) converted for use by Starbucks. All mechanicals new in 2005.
- Options:
- two 5 year options to renew. rent increases 15% in each option period
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.