Office Building on Main Corridor 'NNN' Leased to Santander Bank
Office Building on Main Corridor ‘NNN’ Leased to Santander Bank 1535 Richmond Avenue / Staten Island, NY Property Highlights Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 1535 Richmond Avenue, a NNN leased Class A office building, located along the heavily trafficked Richmond Avenue at the intersection of Morani Street. The entire building is currently leased to Santander who currently sub-leases to multiple tenants (abstract available upon request). The property is located on one of Staten Island busiest retail corridors and has fast and easy access to I-278 and Route 440, with a 20 minute ride into Brooklyn and 15 minute ride into New Jersey.
ASKING PRICE: $13,950,000 $349 / SF 6.6% Cap Rate
1535 Richmond Avenue was built in 2002 and has a cast-in-place reinforced concrete foundation (100 lbs. per square foot floor load) , 3” thick granite with insulated gold dust glass on the exterior, and has thermally broken aluminum and insulated glass windows and doors. The property has two separately enclosed stairwells, as well as two hydraulic passenger elevators. There is also building-wide Culligan drinking water purification system. Certificate of Occupancy permits 454 occupants. The property is adjacent to Walgreens, and a mile south of the property is the Staten Island Mall, with more than 1.3 million square feet of shopping and restaurants. Also, Richmond avenue has densely packed national retailers surrounding the property, and less than a mile away from the College of Staten Island. This makes a perfect opportunity for an owner/user to take ownership, and also primed for investment purposes.
Financial Summary
Building Features
Annual Revenue: $931,951.18
1548 / 100
Total Expenses:
2
C1-2 / R3-2
6
84
39,896
$85,786
130’9” x 292’3” SF (including parking) Lot Dimensions
Block / Lot
100% Reimbursed ($0)
Zoning
Floors
Net Operating Income: $931,951.18 Tenant: Santander Bank LXP:
May 30, 2017
(3.5% increase per year / (2) 5-yr ext.)
Parking Spaces (4 ADA Compliant)
Office Units Office Square Footage
R.E. Taxes (15/16)
55,544 SF
Lot Square Footage
Shaya Deaton Executive Director +1 718 307 6556 [email protected]
Michael DeCheser Executive Director +1 212 660 7772 [email protected]
Stephen R. Preuss Executive Director +1 718 512 2118 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
ASKING PRICE: $13,950,000 $349 / SF 6.6% Cap Rate
1535 Richmond Avenue was built in 2002 and has a cast-in-place reinforced concrete foundation (100 lbs. per square foot floor load) , 3” thick granite with insulated gold dust glass on the exterior, and has thermally broken aluminum and insulated glass windows and doors. The property has two separately enclosed stairwells, as well as two hydraulic passenger elevators. There is also building-wide Culligan drinking water purification system. Certificate of Occupancy permits 454 occupants. The property is adjacent to Walgreens, and a mile south of the property is the Staten Island Mall, with more than 1.3 million square feet of shopping and restaurants. Also, Richmond avenue has densely packed national retailers surrounding the property, and less than a mile away from the College of Staten Island. This makes a perfect opportunity for an owner/user to take ownership, and also primed for investment purposes.
Financial Summary
Building Features
Annual Revenue: $931,951.18
1548 / 100
Total Expenses:
2
C1-2 / R3-2
6
84
39,896
$85,786
130’9” x 292’3” SF (including parking) Lot Dimensions
Block / Lot
100% Reimbursed ($0)
Zoning
Floors
Net Operating Income: $931,951.18 Tenant: Santander Bank LXP:
May 30, 2017
(3.5% increase per year / (2) 5-yr ext.)
Parking Spaces (4 ADA Compliant)
Office Units Office Square Footage
R.E. Taxes (15/16)
55,544 SF
Lot Square Footage
Shaya Deaton Executive Director +1 718 307 6556 [email protected]
Michael DeCheser Executive Director +1 212 660 7772 [email protected]
Stephen R. Preuss Executive Director +1 718 512 2118 [email protected]
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
