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37 E Main St 3,160 SF Office Building Elmsford, NY 10523 $5,664,219 CAD ($1,792.47 CAD/SF) 5% Cap Rate
Investment Highlights
- 7-Eleven is the world’s largest convenience store chain, operating, franchising, or licensing over 85,000 stores across 19 countries and regions
- Located at the signalized intersection of N Hillside Avenue and E Main Street
- Situated within one mile of the Interstate-287 on-ramp, which sees a daily traffic volume of over 97,000 vehicles
- 7-Eleven is investment grade (S&P: A-) with over 13,000 locations in United States and Canada alone
- Annual average daily traffic count of 19,213 (AADT)
- Located in the NYC MSA, the largest metropolitan area in the United States with a population of over 20,000,000
Executive Summary
RIPCO Real Estate is pleased to offer for sale 37 East Main Street, a 3,160 SF commercial property leased to 7-Eleven, located in Elmsford, NY which is part of the
New York City MSA. This 7-Eleven location was built in 2021 and initially signed a 15-year absolute NNN lease with four 5-year options to extend. They currently have 10
years remaining on their initial term. The lease contains +10% rental increases every 5 years, providing the Landlord with management-free income and a built-in hedge
against inflation. This 7-Eleven ranks in the top 17% of all 7-Eleven locations nationwide by visits (including gas sites), with over 239,000 annual visitors, according to
Placer.ai. The property sits on the northwest corner of the signalized intersection of E Main Street and N Hillside Avenue. Within 3 miles of 7-Eleven, there is a population
of 90,620 and an average household income of $198,427.
The asset would be an attractive opportunity for investors looking for management-free income, with newer construction, and a strong national credit tenant within
the largest metropolitan area in the country.
New York City MSA. This 7-Eleven location was built in 2021 and initially signed a 15-year absolute NNN lease with four 5-year options to extend. They currently have 10
years remaining on their initial term. The lease contains +10% rental increases every 5 years, providing the Landlord with management-free income and a built-in hedge
against inflation. This 7-Eleven ranks in the top 17% of all 7-Eleven locations nationwide by visits (including gas sites), with over 239,000 annual visitors, according to
Placer.ai. The property sits on the northwest corner of the signalized intersection of E Main Street and N Hillside Avenue. Within 3 miles of 7-Eleven, there is a population
of 90,620 and an average household income of $198,427.
The asset would be an attractive opportunity for investors looking for management-free income, with newer construction, and a strong national credit tenant within
the largest metropolitan area in the country.
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Property Type
Office
Building Size
3,160 SF
Building Class
C
Year Built
2021
Price
$5,664,219 CAD
Price Per SF
$1,792.47 CAD
Cap Rate
5%
NOI
$283,211 CAD
Tenancy
Single
Building Height
1 Story
Typical Floor Size
3,160 SF
Building FAR
0.21
Lot Size
0.35 AC
Zoning
CR
Parking
14 Spaces (4.43 Spaces per 1,000 SF Leased)
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Some public transit
50/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2605-005-040-00062-000-0007 | Improvements Assessment | $2,182,603 CAD |
| Land Assessment | $600,797 CAD | Total Assessment | $2,783,400 CAD |
Property Taxes
Parcel Number
2605-005-040-00062-000-0007
Land Assessment
$600,797 CAD
Improvements Assessment
$2,182,603 CAD
Total Assessment
$2,783,400 CAD
Contacts
-
Ari Ravi -
Nathan Timmons -
Alan Miller -
Kevin Louie -
Stephen Preuss -
RIPCO Real Estate
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37 E Main St
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