Single-Tenant Absolute NNN
For Sale
Contact for pricing
306 E State St, Herkimer, NY 13350
Freestanding drive-thru restaurant with a corporate-operated Arby’s and long-term lease structure requiring no landlord responsibilities.
Property Size2,415 SF
Price / SF$823.74
Days on Market60
Property Features for 306 E State St
General Information
Standard status
Active
Size
2,415 SF
Property subtype
Retail
Occupancy
100%
Lease Type
Absolute Net
Investment Type
Net Lease
Net Operating Income
$117,370
Building Details
Year Built
1990
Year Renovated
2015
Tenancy
Single
Listing Agency:
Malchus Real Estate
(424) 320-5460
Listed By:
Joel Cukier · License #02005095
Source:
Crexi
Added: Jul 3
Changed: Aug 30
Last Checked: Aug 30 at 3:33PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Malchus Real Estate
Investment Insights
Based on property information with market context.
This 2,415-square-foot freestanding Arby’s restaurant operates under an Absolute NNN lease with RTM Operating Company, LLC. The building was constructed in 1990 and renovated to the brand’s current prototype in 2015. The corporate-operated tenancy is supported by a corporate guarantee, while the tenant handles maintenance, taxes, insurance, and utilities.
The property is located at 306 E State Street along NY Route 5S in Herkimer, New York, a commercial corridor carrying traffic counts exceeding 20,000 vehicles per day. Interstate 90 and the New York State Thruway provide regional access. Herkimer serves as the county seat and a commercial and governmental center for the surrounding Mohawk Valley.
The lease began with a 20-year term expiring January 31, 2038, with approximately 12 years remaining and four five-year renewal options. Contractual rent increases are set at 10% every five years during the remaining base term and renewal periods.
The property is located at 306 E State Street along NY Route 5S in Herkimer, New York, a commercial corridor carrying traffic counts exceeding 20,000 vehicles per day. Interstate 90 and the New York State Thruway provide regional access. Herkimer serves as the county seat and a commercial and governmental center for the surrounding Mohawk Valley.
The lease began with a 20-year term expiring January 31, 2038, with approximately 12 years remaining and four five-year renewal options. Contractual rent increases are set at 10% every five years during the remaining base term and renewal periods.
Key Highlights
- 2,415 SF freestanding drive‑thru restaurant
- Absolute NNN lease with no landlord responsibilities
- Corporate‑operated Arby’s backed by a corporate guarantee from RTM Operating Company, LLC
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
764
Businesses Nearby
105k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 32%
Groceries 27%
Shops & Services 25%
Electronics 9%
Hannaford
Groceries
28,193 visits/mo
0.3 miles
Burger King
Dining
20,387 visits/mo
0.3 miles
Arby's
Dining
11,941 visits/mo
0.1 miles
Dollar General
Shops & Services
6,695 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
6,681 visits/mo
0.4 miles
Demographics for 13350, NY
9,513
Population
4,709
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
31.6 sq mi
ZIP Area
301
Density / Sq Mi
$62,548
Median Household Income
$37,975
Median Earnings
$821
Median Rent
$136,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Freestanding drive-thru restaurant with a corporate-operated Arby’s and long-term lease structure requiring no landlord responsibilities.
Where is this nnn property located?
The property is located at 306 E State St Herkimer, NY.
What is the asking price?
The asking price for this property is $1,989,322.
What are key features of this property?
This property features: 2,415 SF freestanding drive‑thru restaurant; Absolute NNN lease with no landlord responsibilities; Corporate‑operated Arby’s backed by a corporate guarantee from RTM Operating Company, LLC
