$5,700,000
Staten Island, NY 10314
MLS# 2402768
Status: Closed
10796 sqft
1 / 49
Property Description
Presenting an exceptional investment opportunity at a prestigious Triple A location. 933-939 Richmond Ave is situated at the bustling intersection of Richmond Avenue and Forest Avenue. This prime commercial property is anchored by the popular IHOP restaurant, ensuring a steady flow of foot traffic and visibility. This property represents a rare opportunity to acquire a high-performing commercial asset in a premier location. With established leases and minimal landlord obligations, it promises both stability and profitability for investors. Key Features: Anchor Tenant: IHOP, a renowned and reliable tenant, drawing consistent customer visits. Triple Net Leases (NNN): All current leases are triple net, providing the owner with minimal management responsibilities as tenants cover property taxes, insurance, and maintenance costs. High Visibility: Situated on a highly trafficked location, this asset benefits from maximum exposure to passing vehicles and pedestrians. Ample Parking: The property boasts a spacious parking lot with 36 parking spaces, accommodating customer and tenant needs comfortably. Strong Financials: Generates a solid Net Operating Income (NOI) exceeding $400,000 annually, reflecting its status as an investment.
Details
Maps
Address/Legal
Section: North Shore
Country: United States
Contract/Location Information
List Price/SqFt: 629.86
Sale/Lease: Sale
CofO: Yes
List Type: Exclusive Right to Sell
Owner Finance: No
General Property Info
# of Buildings: 3
Stories: 2
Taxes: 111633
Tax Abated: No
Lot Size SqFt: 26000
Year Built Info: Approx
Lot Dim: 130 x 200
Irregular: Yes
Air Conditioner: Central
Condition: Excellent
# of Parking Spaces: 60
# of Residential Units: 0
# of Commercial Units: 3
# of Mfg Units: 0
# of Medical Units: 0
# of Non-Conform Units: 0
Public Remarks: Presenting an exceptional investment opportunity at a prestigious Triple A location.
933-939 Richmond Ave is situated at the bustling intersection of Richmond Avenue and Forest Avenue. This prime commercial property is anchored by the popular IHOP restaurant, ensuring a steady flow of foot traffic and visibility. This property represents a rare opportunity to acquire a high-performing commercial asset in a premier location. With established leases and minimal landlord obligations, it promises both stability and profitability for investors.
Key Features: Anchor Tenant: IHOP, a renowned and reliable tenant, drawing consistent customer visits. Triple Net Leases (NNN): All current leases are triple net, providing the owner with minimal management responsibilities as tenants cover property taxes, insurance, and maintenance costs. High Visibility: Situated on a highly trafficked location, this asset benefits from maximum exposure to passing vehicles and pedestrians. Ample Parking: The property boasts a spacious parking lot with 36 parking spaces, accommodating customer and tenant needs comfortably. Strong Financials: Generates a solid Net Operating Income (NOI) exceeding $400,000 annually, reflecting its status as an investment.
Year Built: 1975
Building SqFt: 10796
Status Change Info
Projected Close Date: 2024-12-16
Pending Date: 2024-09-16
Sold Date: 2024-12-16
Sold Price: $5,700,000
Sewer
City: 1
Electric
220: 1
Showing Instructions
Call Agent: 1
Heat Source
Gas: 1
Heat System
Other: 1
Electric Meters
Individual: 1
Gas Meters
Individual: 1
Income & Expense
Gross Income: 455529
Total Expense: 42962
Net Income: 412567
Features
Restaurant: 1
Building Info
Building Available SqFt: 10796
Sprinklers: Yes
Construction
Concrete Block: 1
Frame: 1
AddressLegal
Street No.: 933-939
Street Name: Richmond
Street Suffix: Avenue
County: Richmond
State: NY
Zip Code: 10314
Area Name: Graniteville
Parcel ID: 01477-0009
ContractLocation Information
Status: Closed
Marketing/Listing Date: 2024-05-15
Sold Price: $5,700,000
Current Price: $5,700,000
Sub-Type: Commercial
Zoning: C2-1
Block: 01477
Lot: 0009
Property Features
Electric Meters: Individual
Gas Meters: Individual
Heat Source: Gas
Heat System: Other
Showing Instructions: Call Agent
Electric: 220
Features: Restaurant
Construction: Concrete Block; Frame
Listing Courtesy of American Homes Group
Listing data provided courtesy of Staten Island Multiple Listing Service. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.