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Views: 75 DOM: 49 Updated: 10.23.24 Posted: 09.26.24 Status: Active

Summary

Price $13,760,000
Built/Renov 2004/2023
Tenant Tops Friendly Markets
Cap Rate 6.85%
Lease Type NN+
Guarantor Corporate
Size/SF 58,000
Lease Start 01-23-2004
#Units 149
Price/SF $237.24
Expiration 07-31-2034
Tenant Type Grocery
NOI $942,500
R. Term 9.8
Ownership Fee Simple
Rent/SF $16.25
Increases 0.0%/0/yrs
Pop 5Mi 129,881
Lot/AC 4.39
Options 4/5yrs
AHHI 5Mi $80,810

Lease Highlights

  • Tops Market invested nearly $3M into their store renovation in 2023
  • Tenant recently exercised a twelve (12) year lease extension bringing the lease expiration to July 2034
  • Minimal LL responsibilities | Tenant responsible for roof, including replacement
  • Tops fuel center on-site drives additional traffic to the property and is included in the sale

Location Description

Tops Friendly Markets is strategically located on Meadow Drive, with access to a daily traffic count of 9,688 vehicles. The property is situated within the Mid-City Plaza Shopping Center, surrounded by national tenants such as McDonald's, CVS, Walgreens, Dollar Tree, Burger King, Napa Auto Parts, Advanced Auto Parts, Sherwin-Williams, and E.C. Barton. This infill location serves a population...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Tops Markets is a leading supermarket retailer in New York and Pennsylvania markets. With over 14,000 employees, 140+ full-service supermarkets including 5 operated by franchisees under the Tops...


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Listing Broker

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