1099 Targee StStaten Island, NY 10304

For Sale
$4,950,000

Fully Leased, Strong NOI, Net Lease

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a fully leased, 12,920 square foot Class B medical office building located at 1099 Targee St, Staten Island, NY 10304. The property, built in 1992 and situated on a 14,549 square foot lot, features a two-story design and is zoned R2/R3-2. Currently 100% occupied by a single tenant under a triple net (NNN) lease with a remaining term of approximately 4.1 years (expiring December 31, 2028), the lease commenced March 1, 2020, and includes annual rent bumps of 3%. The current Net Operating Income (NOI) is $383,563, with a pro-forma NOI of $395,069, resulting in a current cap rate of 7.75% and a pro-forma cap rate of 7.98%. The asking price is $4,950,000, translating to a price per square foot of $383.13. This prime location at the intersection of Targee Street and Columbus Avenue offers excellent visibility and accessibility. The property represents a stable, low-maintenance investment with a secure, long-term tenant and significant upside potential.

Highlights

  • Single-Tenant Net Lease Investment Opportunity.
  • High-Visibility Corner Location at Targee St & Columbus Rd.
  • Significant Annual Rent Escalations.

Property Details for 1099 Targee St

Property type
Other office properties, Medical offices
Square Feet
12,920 SF
Class
B
Year Built
1992
Buildings
1
Stories
2
Units
1

Location Insight

City
Staten Island
County
Richmond
State
New York
Latitude
40.6013187
Longitude
-74.091135
1099 Targee St, Staten Island, New York

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1099 Targee St
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