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Fortunoff Backyard Store 1189 Old Country Rd 13,645 SF Retail Building Riverhead, NY 11901 $5,343,000 CAD ($391.57 CAD/SF) 6.77% Cap Rate
Investment Highlights
- A+ Location, Full Acre in a Dominant Trade Area
- Massive Trade Area, High Performing Retail
- Zero Landlord Responsibilities
Executive Summary
Surmount is pleased to present the exclusive listing for a Fortunoff Backyard Store located at 1189 Old Country Road, Riverhead, NY 11901. The site consists of roughly 13,645 rentable square feet of building space on an estimated 1.01-acre parcel of land. Fortunoff Backyard Store is subject to a 10-year Triple Net (NNN) lease, which commenced 12/17/2021. The current annual rent is $264,000 and has scheduled increases of 10.00% Every 5 Years.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,645 SF
Building Class
C
Year Built
1948
Price
$5,343,000 CAD
Price Per SF
$391.57 CAD
Cap Rate
6.77%
NOI
$361,680 CAD
Tenancy
Single
Building Height
1 Story
Building FAR
0.31
Lot Size
1.01 AC
Opportunity Zone
Yes
Zoning
3
Frontage
94’ on Old Country Rd
Amenities
- Signage
Moderately walkable
60/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 0600-108-00-04-00-002-000 | Improvements Assessment | $212,399 CAD |
| Land Assessment | $64,422 CAD | Total Assessment | $276,820 CAD |
Property Taxes
Parcel Number
0600-108-00-04-00-002-000
Land Assessment
$64,422 CAD
Improvements Assessment
$212,399 CAD
Total Assessment
$276,820 CAD
Contacts
-
Connor Crovello -
Richard Nardi -
James Ventura -
Glen Kunofsky -
Christopher Marks -
Surmount
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Fortunoff Backyard Store | 1189 Old Country Rd
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