11 Riverdale Ave Port Chester, NY 10573
- Retail properties
- 30,000 SF
- 0.70 lot acres
Current Use by Public Records
- Dr. Stephen Handler, Board Certified Chiropractor / Chiropractor
- Kaitlin McMahon, DC, CPT / Chiropractor
- Alexi Kantor, DC / Chiropractor
- Repair Recover Restore / Chiropractor / Psychologist
- Oxygen Aesthetics - Medical Spa in Port Chester, NY / Thai Massage Therapist / Medical Group
Property Details for 11 Riverdale Ave
- Year built
- 1946
- Lot size
- 0.70 lot acres
- Property size
- 30,000 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
Exceptional investment opportunity: a 30,000 square foot Hydrogen Fitness Center in Port Chester, NY, at 11 Riverdale Ave, is available for purchase. This fee-simple property sits on a 0.7-acre lot and boasts a 20-year absolute triple-net (NNN) lease with a strong tenant. The current annual net operating income (NOI) is $420,000, yielding a 6.50% cap rate. The lease commenced upon closing and includes a 2% annual rent increase, ensuring consistent income growth. Four 5-year renewal options extend the potential lease term to 40 years. Built in 1946, the property has undergone significant tenant improvements, with the tenant investing approximately $1 million in renovations. The property also features additional customer amenities, including a car wash, valet parking, a chiropractor, oxygen aesthetics, a golf simulator, a sauna, and a massage therapist, enhancing its appeal and profitability. This is a rare opportunity to acquire a high-performing, long-term net-leased property with a strong tenant and significant upside potential. The asking price is $6,461,538.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Port Chester
- County
- Westchester
- State
- New York
- Longitude
- -73.6563
- Latitude
- 41.0129
