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Key Details
Sold Price $5,700,000
Property Type Commercial
Sub Type Commercial
Listing Status Sold
Purchase Type For Sale
Square Footage 10,796 sqft
Price per Sqft $527
MLS Listing ID 2402768
Sold Date 12/16/24
Originating Board Staten Island Multiple Listing Service
Year Built 1975
Annual Tax Amount $111,633
Lot Size 0.597 Acres
Acres 0.6
Lot Dimensions 130 x 200
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.
Location
State NY
County Richmond
Area Graniteville
Zoning C2-1
Interior
Heating Natural Gas, Other
Exterior
Parking Features Assigned, Private
Building
Story 2
Sewer City
Level or Stories 2
Structure Type Frame,Block
New Construction No
Others
Tax ID 01477-0009
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