4051 Hylan BlvdStaten Island, NY 10308

For Sale
$11,571,000

High-Yield CVS Net Lease, 16+ Years Remaining

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fee-simple, Class A, single-tenant CVS Pharmacy net lease property located at 4051 Hylan Blvd, Staten Island, NY 10308. The 12,487 square foot building, constructed in 2013 and renovated in 2021, sits on a 0.97-acre lot. The property boasts a strong 6.00% cap rate with a pro-forma cap rate of 6.57%, generating a current NOI of $694,000 and a pro-forma NOI of $760,095. The lease, originally commencing March 27, 2015, has a remaining term of 16.2 years, extending to January 31, 2041. The lease includes four five-year options with a 10% rent increase every 10 years. The asking price is $11,571,000, translating to a price per square foot of $926.64. This is a 100% occupied, single-story building in a high-traffic area with over 31,000 vehicles passing daily. The property's strong tenant, long lease term, and built-in rent increases make it an attractive investment prospect.

Highlights

  • $11,571,000 asking price for a Net Leased CVS Pharmacy.
  • 16.2 years remaining on a 25.9-year lease.
  • 12,487 square foot building on a 0.97-acre lot in Staten Island, NY.
  • Four 5-year lease options with 10% rent increases every 10 years.
  • 6.00% cap rate, 6.57% pro-forma cap rate, and $694,000 NOI ($760,095 pro-forma NOI).

Property Details for 4051 Hylan Blvd

Property type
Other retail properties, Individual retail properties
Square Feet
12,487 SF
Class
A
Year Built/Renovated
2013/2021
Buildings
1
Stories
1
Lot Size (sq. ft)
42,253 SF
Units
1

Location Insight

City
Staten Island
County
Richmond
State
New York
Latitude
40.54112493755
Longitude
-74.147223362219
4051 Hylan Blvd, Staten Island, New York

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4051 Hylan Blvd
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