$3,550,000.00

Brookmead Retail Center & Development Site (Plaza and Ground Lease Parcel) FOR SALE

The Plaza

Well performing retail plaza, solid tenancy priced to sell at a 10 CAP on current net income. Building consists of over 40,000 square footage. Recent capital improvements to the center of over half million dollars includes tenant fit-ups, septic expansion, roof replacement and blacktop pavement and striping.

Ground Lease

Plaza Parcel includes nnn ground lease with well performing McDonalds franchise service by two(2x) drive-thru. Five (5), 5-year lease options and one, 3.5-year lease option. Substantial base rent increases for each lease extension. Current construct includes capital improvement investment over $750,000 by tenant.

Highlights

  • Price aggressively at 10 CAP on actual income
  • NNN Ground lease, high volume McDonald’s w/ drive-thru current construction investment
  • Solid plaza tenancy with upside with in-placed rental increases
  • B-1 & I-3 zoning allowing high demand uses
  • Development Expansion Opportunity – 8.2 acres
  • Outstanding Demographics
  • Flexible Zoning; Business / Retail and Light Industrial
  • Rare Offering
  • Excellent Property in High Growth Corridor
  • High Traffic Count along Route 376: 12,302 AADT

Details

Purpose : Sell
Status : Active
Price : $3,550,000.00
Property Type : Commercial
Address : 962-985 Route 376 and Van Wyck Road
City : Hopewell Junction
State : New York
Zip Code : 12590
Country : USA
County : Dutchess County
Lot Size : 6.2 AC
Area : 40000 Sq Ft
Zoning Description : B-1 & I-3: Business/Retail & Light Industrial
Year Built : 1976
Service Type : Triple Net
Latitude : 41.60717977520878
Longitude : -73.83714413386838

Features

High visibility corridor
Strong Demographics
Visible/High Traffic
Flexible Zone

Attachments

Find on Map

Robert Buyakowski
Associate Broker, Land Development