1240 Arsenal StWatertown, NY 13601

For Sale
$3,756,098

High-Yield NNN Lease Investment

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional investment opportunity presents a fee-simple ownership of a 6,117-square-foot Goodyear Auto Service center located at 1240 Arsenal St, Watertown, NY 13601. The property sits on a 0.72-acre lot and boasts a strong 100% occupancy rate under a triple-net (NNN) lease with a corporate guarantee from Goodyear Tire & Rubber Company. The lease, initiated March 1, 2017, has a remaining term of approximately 7.3 years, extending to February 29, 2032, with four 5-year renewal options. The current annual net operating income (NOI) is $231,000, yielding a 6.15% cap rate. The lease includes attractive rental increases of 10% every five years, providing inflation protection. The landlord's responsibility is limited to roof and structure maintenance. Built in 2016, this single-unit building represents a secure, long-term investment with significant upside potential due to the established tenant, built-in rent escalations, and the substantial remaining lease term. This is a rare opportunity to acquire a high-performing, passively managed asset with a strong corporate tenant and a proven track record. The property offers a compelling combination of stability, growth potential, and a strong return on investment.

Highlights

  • $3,756,098 asking price for a Goodyear Auto Service retail property.
  • Net lease (NNN) with corporate guarantee from Goodyear Tire & Rubber Company.
  • 15-year lease with 7.3 years remaining; 4 five-year renewal options.
  • 6,117 square feet on a 0.72-acre lot in Watertown, NY.
  • 6.15% cap rate with a $231,000 annual NOI.
  • Built in 2016, 100% occupancy.

Property Details for 1240 Arsenal St

Property type
Other retail properties, Automotive properties
Square Feet
6,117 SF
Year Built
2016
Buildings
1
Lot Size (sq. ft)
31,363 SF
Units
1

Location Insight

City
Watertown
County
Jefferson
State
New York
Latitude
43.976540230503
Longitude
-75.943492543491
1240 Arsenal St, Watertown, New York
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1240 Arsenal St
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