1161 Victory Blvd Staten Island, NY 10301

Property Details for 1161 Victory Blvd

Year built

2012

Lot size

0.73 lot acres

Property size

13,961 SF

Property type

Drug stores

Description

This exceptional investment opportunity presents a 13,961 square foot Walgreens located at 1161 Victory Blvd, Staten Island, NY 10301. The property boasts a strong 5.14% cap rate, generating a net operating income (NOI) of $514,250. Secured by a corporate guarantee, the absolute NNN ground lease features a remaining term of 13.3 years, extending to February 28, 2038, with favorable 10% rent bumps throughout the base and option periods. The lease includes option periods of 4, 5, and 1 (final) years. Built in 2012, this single-tenant property sits on a 0.73-acre lot and includes 45 parking spaces. The property benefits from an irreplaceable corner location with high visibility, surrounded by national tenants and experiencing 31,874 vehicles per day (VPD) passing the site (at the intersection of Clove Rd & Victory Blvd), with easy access to I-278 (Staten Island Expressway) which sees 162,000 VPD just one mile south. The current rent of $33 per square foot is easily replaceable given the high-profile location. The property's proximity to Richmond University Medical Center, a major healthcare facility, further enhances its value and stability. The asking price is $10,000,000. This is a rare opportunity to acquire a high-performing, low-risk net lease investment with significant long-term growth potential.