Apple Bank for Sale in Babylon, NY
Babylon, NY
Key Investment Metrics
Price
$3,257,000
Cap Rate
5.2%
Net Operating Income
$170,500
Building Size
3845 SF
Land Area
0.69 Acres
Remaining Term
9.8 years
Lease Expiration
05/05/2036
Lease Term
15 years
Lease Commencement
05/05/2021
Lease Type
Absolute NNN
Tenant Credit
Credit Rated, Corporate Guarantee
Year Built
2003
Occupancy
100%
Tenancy
Single
Rent Increases
10% Every 4 Years on Primary Term
Property overview
Apple Bank in Babylon
Review the reported property and lease details, then request the supporting documents for your acquisition review.
- Building area
- 3,845 SF
- Land area
- 0.69 acres
- Year built
- 2003
- Lease type
- Absolute NNN
- Lease expiration
- 05/05/2036
Confirm current availability, pricing and lease terms through the inquiry form before relying on this listing.
Before you make an offer
Four things to verify
- 1
Lease and guaranty
Request the executed lease and amendments. Identify the legal tenant, guarantor and landlord obligations.
- 2
Income and expenses
Obtain the rent roll and operating statement supporting the advertised NOI and cap rate.
- 3
Property condition
Review survey, title, condition and environmental information relevant to this property.
- 4
Exchange requirements
For a 1031 exchange, confirm eligibility and deadlines with your qualified intermediary and tax adviser.