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This exceptional investment opportunity presents a 12,000-square-foot Class A warehouse in Newburgh, New York, currently leased to Sunbelt Rentals, a leading equipment rental company with an investment-grade credit rating (S&P: BBB-). The property, a 2024 new construction build-to-suit, boasts ample outdoor storage and multiple service bays, perfectly designed to meet Sunbelt's operational needs. Situated at the intersection of I-84 and I-87, this strategically located asset enjoys a large service radius, covering a 45-60 mile area north of New York City and south of Albany. The property benefits from its high-demand industrial outdoor storage (IOS) asset class and its proximity to other national tenants, including Amazon, FedEx, UPS, Estes Express, Ryder, and Pilot Travel Center. The 10-year net lease commenced October 1, 2024, and includes rent bumps: years 1-3 are flat, years 4-5 increase by 3% annually, and years 6-10 increase by 2% annually. Three five-year lease options are also included, providing long-term stability and predictable cash flow. The asking price is $7,902,517, representing a 6.00% cap rate with a net operating income (NOI) of $474,151. The 5.9-acre lot offers a land value of $658.54 per square foot. This is a rare opportunity to acquire a high-quality, strategically located industrial asset with a strong, creditworthy tenant and significant long-term growth potential.
Highlights
Investment-grade tenant Sunbelt Rentals (Ashtead Group, S&P: BBB-) occupies this property, a leading equipment rental company with over 1,200 locations nationwide.
New 2024 build-to-suit warehouse designed for Sunbelt's needs, including ample outdoor storage and multiple service bays.
Strategically located at the I-84 & I-87 intersection, servicing a large radius around New York City and Albany, with no nearby competitors.
High-demand industrial outdoor storage (IOS) asset due to significant excess yard space.
10-year NNN lease commenced upon Certificate of Occupancy, with 3 five-year renewal options.
Strong location near national tenants like Amazon, FedEx, UPS, Estes Express, Ryder, and Pilot Travel Center.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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