Cap Rate: 6.15%
Net Operating Income: $114,472
Square Footage: 10,044
Lot Size: .79 AC
The subject property is a 10,044 square foot Advance Auto Parts hub store located in Utica, New York. Advance Auto Parts has a new 10 year net lease with 5% rent increases during each of the three, five-year options. There are minimal landlord obligations with the landlord responsible for structure.
The subject property is positioned nearby Dollar Tree, McDonald’s, Walgreens, Dunkin’, and many others.
Utica is a city in the Mohawk Valley and the county seat of Oneida County, New York, United States. The tenth-most-populous city and sixth-most populous metro area in New York, its population was 62,235 in the 2010 U.S. census. Located on the Mohawk River at the foot of the Adirondack Mountains, it is approximately 95 miles (153 kilometers) west-northwest of Albany, 55 mi (89 km) east of Syracuse and 240 mi (386 km) northwest of New York City. Utica and the nearby city of Rome anchor the Utica–Rome Metropolitan Statistical Area comprising all of Oneida and Herkimer Counties.