Property details
New York Single Tenant Government Property, Northeast Region
Property Description
New York Single Tenant Government Property
Investment-Grade AAA rated Tenant.
60,000 sf building.
Available is a single tenant property occupied solely by a New York government tenant.
The tenant has occupied this property ever since it was build in the 1970's.
The lease is a double net (NN) lease with minimal landlord responsibilities.
Typical to most government leases, the leases come in 10-year leases.
There is currently approx. 2 years remaining on the current 10-year lease.
As a bonus, the owner has agreed to include in the sale an adjacent 11,000 sf lot where a 44,000 sf building could be built.
The existing commercial overlay in place allows for many uses for the adjacent lot such as expansion of the current building to many other uses due to its mixed use zoning
Images
Highlights
- Status:
- Available
- Price:
- $23,000,000
- Cap Rate:
- 6.52%
Property Information
- Property Type:
- Net Lease
- Industry Type:
- Government
- Units/Spaces:
- 1
- Purchase Tenure:
- Fee Simple
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.