Shaw’s plaza Island park, NY

$ 943,448 Brand Logo

  1. Cap Rate 7.25%
  2. Term 13 YRS

listing agents

Seth J. Richard
Seth J. Richard

Vice President Investments

National Retail Group

  • (212) 430-5164
  • (860) 287-4624
  • seth.richard@marcusmillichap.com
  • view bio

property overview

Best Buy is a leading provider of technology products, services and solutions. The company offers expert service at an unbeatable price more than 1.5 billion times a year to the consumers, small business owners and educators who visit our stores, engage with Geek Squad Agents or use BestBuy.com or the Best Buy app. The company has operations in the U.S. where more than 70 percent of the population lives within 15 minutes of a Best Buy store, as well as in Canada and Mexico, where Best Buy has a physical and online presence. The company was founded by Richard Schulze in 1966 and called Sound of Music before the name changed to Best Buy in 1983. Best Buy generates nearly $40 billion annually. Nationwide, Best Buy has more than 1,500 stores in North America, including large-format and Best Buy Mobile stores, and employs more than 125,000 people. Through its recycling program, Best Buy collects 409 pounds of electronics each minute the stores are open.

investment highlights

  • Tenant: Best Buy
  • Premises: 45,915 SF
  • Leasable Area: 3 x 5 Yr & 1 x 4 Yr
  • Lease Expiration: 1/ 31/20
  • Lease Type: NN
  • Rental Increases: Fixed at Options
  1. 100% Occupied Single Tenant NN Lease
  2. Three (5) Year Renewal Options and One (4) Year Renewal Option
  3. Immediate Proximity to Lowe’s Home Improvement and Costco Wholesale
  4. Outstanding Location with Immediate Access Off US Highway 30
  5. Population 150,000+ Within a Five Mile Radius
  6. Dense Retail Corridor with Strong Traffic Counts – Nearly 75,000 VPD Along US Highway 30
  7. Walking Distance of 1,000+ Multifamily Units
  8. Over 500,000 SF of Office Space Within One Mile – Average Occupancy of 96.6%

location

Crossroads Shopping Center

Crossroads Shopping Center

  1. Shaw’s plaza
  2. 117 W 17th St, New York, NY 10011, USA, Island park, NY
  3. 943,448$
  4. Cap Rate 7.25%
  5. Term 13 YRS