351 Southern Blvd - Service Station FOR SALE


Albany, NY 12209
$5,000,000 USD
973-632-1386
351 Southern Blvd, Albany, NY for Sale
$5,000,000 USD
Service Station - FOR SALE
1/9
null | 5% Cap Rate

351 Southern Blvd
Albany, NY 12209


HIGHLIGHTS

  • Approximately 17 Years Remaining | Options To Extend | Scheduled Rental Increases
  • Absolute NNN | Ground Lease | Zero Landlord Responsibilities
  • Signalized, Hard-Corner Intersection | Interstate 787 (85,400 VPD) | Excellent Visibility | Significant Street Frontage | Large Pylon Sign
  • Strong National/Credit Tenant Presence | Retail Corridor
  • Direct, Affluent Consumer Base | Strong Demographics In 5-Mile Trade Area

OVERVIEW

SRS National Net Lease is pleased to offer the opportunity to acquire the leased fee interest (land ownership) in an absolute NNN leased, Speedway investment property located in Albany, New York. The tenant has approximately 17 years remaining on its 20-year lease with 5 (5-year) options to extend, demonstrating their commitment to the site. The lease features 5% rental increases every 5 years throughout the initial term and at the beginning of each option period, steadily growing NOI and hedging against inflation. The lease is absolute NNN with zero landlord responsibilities making it an ideal, management-free investment opportunity for a passive investor. The property also includes a diesel station for semi-trucks.

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$1,087 USD /SF

CAP RATE

5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Speedway | 17yrs Remain Corp Abs NNN Grd Lse

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

ADD'L SUBTYPES

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

SPRINKLERS

-

PARKING SPACES

23

LAND DETAILS

LAND ACRES

3.03 AC

LAND SF

131,987 SF

ZONING

MUCH

APN/PARCEL ID

010100-087-005-0003-004-002-0000

ASK ABOUT THIS PROPERTY

Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

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Kyle FantSRS Real Estate PartnersMore Info
973-632-1386

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.