Chase Bank Woodbury, Long Island, NY

$12,375,000

The space

  • Price: $12,375,000
  • Cap Rate: 4.00%
  • Rentable Square Feet: 4,875
  • Annual Rent: $495,000
  • Land Area: 0.64 Acres
  • Year Built: 2021
  • Lease Guarantor: Corporate
  • Lease Type: Triple Net (NNN)
  • Lease Expiration: December 31, 2036

Description

7920 Jericho Turnpike
Woodbury, NY 11797

Investment Highlights

  • Irreplaceable Location on Long Island With Excellent Demographics
  • True A+ Locale, Highly Sought-After Location, Trophy Real Estate
  • Hard Corner, Signalized Intersection
  • Population Over 200,000 Within Five Miles of Subject Property
  • Affluent Community With Average Household Income of $245,341 in One Mile – Well Above the U.S. Median
  • New, 15-Year, Triple Net (NNN) Lease with Four, Five-Year Tenant Renewal Options
  • New Location, Built and Opened in December 2021 | Property Includes Drive-Thru ATM and Pass-Thru Lane
  • Chase JPMorgan is the Country’s Largest Bank by Assets

 

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire a brand-new Chase Bank in Woodbury, Long Island, New York. This is highly sought after, trophy real estate at an irreplaceable location. Long Island is an affluent community with the average household income of $245,341 in one mile of the Property, which is well above the U.S. median. The population is over 200,000 within five miles.

The Subject Property is located at a hard corner and signalized intersection which is easily accessible from two major throughfares – Long Island Expressway (also known as I-495, with 145,450 vehicles daily) and Northern State Parkway (96,423 vehicles daily). In addition to local retailers that make up the area, surrounding national retailers include The Home Depot, Marshall’s, Home Goods, Stop & Shop, Mattress Firm, Party City, Petco, Cross Fit, DSW, Anthony’s Coal Fired Pizza, McDonald’s, Chipotle, Panera Bread, Dunkin’ Donuts, Starbucks, Bank of America and many more.

Woodbury, NY is a part of a premier Long Island location – prime North Shore locale, also known as the Gold Coast of Long Island with close access to The Hamptons, a string of seaside communities known as a summer destination for affluent New York City residents. This Chase is also 26 miles from John F. Kennedy International Airport, the fifth-busiest airport in the U.S., and is 30 miles outside of New York City, one of the most densely populated cities in the country.

This Chase Bank has a new, 15-year, triple net (NNN) lease with four, five-year tenant renewal options. This lease offers 10 percent rent increases every five years throughout the base term and option periods. This is a new location, built and opened in December 2021. The property includes a drive-thru ATM and a pass-thru lane.


Susan Bands
Broker of Record
New York, NY
P: (212) 430-5100
Lic.# 10311209023

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