4796 Commercial Dr, New Hartford, NY, 13413

Highlights

• Tenant pays utilities, taxes, and maintains all aspects of the premises
• No landlord responsibilities
• Rent increases to grow NOI and hedge against inflation
• Ideal, management-free investment for a passive investor

Description

Donovan Real Estate Services and Pavia Real Estate Services are pleased to offer the opportunity to acquire two absolute NNN leased investment properties located in New Hartford, NY. The tenants are 7 Brew Coffee and Take 5 Oil Change.

7 Brew recently signed a brand new 10-year lease with 4 (5-year) options to extend, demonstrating their commitment to the site. The lease features 10% rental increases every 5 years through the initial term, and at the beginning of each option period.

Take 5 Oil Change signed a brand new 15-year lease with 4 (5-year) options to extend, demonstrating their commitment
to the site. The lease features 10% rental increases every 5 years through the initial term, and at the beginning of each option period.

The tenants have a lease structure that grows NOI and hedges against inflation. The leases are absolute NNN with zero landlord responsibilities, making it an ideal, management free investment opportunity for a passive investor.

Both tenants are located at the signalized entrance to New Hartford Consumer Square, a 500,000 SF Super Regional Power Center. The site sees almost 25,000 vehicles a day. New Hartford Consumer Square is anchored by Walmart. Other national tenants in the center include TJ Maxx, PetSmart, Barnes & Noble, Best Buy, Five Below, Sierra, Michaels, Chipotle, Starbucks, Applebee’s, and Jersey Mike’s.

The available investment properties are located in a prime location in the New Hartford Commercial Drive retail corridor, which serves and draws from a six-county region. Other nearby national/credit tenants include ALDI, Lowe’s, Kohls, At Home, Hobby Lobby, Hannaford grocery, Market 32 grocery, Party City, Planet Fitness, Target, and more, furthering increasing consumer traffic to the site. The 5 Mile radius ring has over 100,000 people in it, with a median household income of $91,473.

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