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1295 Madison Ave - Chase Bank 3,002 SF Retail Condo Unit Offered at $13,700,000 in New York, NY 10128
Investment Highlights
- Long-Term NNN Lease With Zero Landlord Responsibilities
- Attractive Rental Increases
- Strong Corporate Guarantee
Executive Summary
Surmount is pleased to present the exclusive listing for a Chase Bank located at 1295 Madison Ave., New York, NY 10128. The site consists of roughly 3,002 rentable square feet of building space on an estimated 0.14-acre parcel of land. This Chase Bank is subject to a 15.5-year Triple Net (NNN) lease, which commenced 3/15/2023. The current annual rent is $616,500 and has scheduled increases of 10.00% every 5 years.
Property Facts
| Total Building Size | 62,620 SF | Floors | 11 |
| Property Type | Multifamily (Condo) | Typical Floor Size | 5,693 SF |
| Property Subtype | Apartment | Year Built | 2020 |
| Building Class | B | Lot Size | 0.14 AC |
| Zoning | R6 - Medium-density residential | ||
| Total Building Size | 62,620 SF |
| Property Type | Multifamily (Condo) |
| Property Subtype | Apartment |
| Building Class | B |
| Floors | 11 |
| Typical Floor Size | 5,693 SF |
| Year Built | 2020 |
| Lot Size | 0.14 AC |
| Zoning | R6 - Medium-density residential |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Microwave
- Washer/Dryer
- Heating
- Tile Floors
- Double Vanities
- Kitchen
- Granite Countertops
- Hardwood Floors
- Vaulted Ceiling
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Tub/Shower
- Walk-In Closets
- Family Room
- Framed Mirrors
- Freezer
- Pantry
Site Amenities
- 24 Hour Access
- Concierge
- Fitness Center
- Doorman
- Storage Space
- Bicycle Storage
- Pet Care
1 Unit Available
Unit Bank
| Unit Size | 3,002 SF | Sale Type | Investment |
| Price | $13,700,000 | Cap Rate | 4.50% |
| Price Per SF | $4,563.62 | NOI | $616,500 |
| Condo Use | Retail |
| Unit Size | 3,002 SF |
| Price | $13,700,000 |
| Price Per SF | $4,563.62 |
| Condo Use | Retail |
| Sale Type | Investment |
| Cap Rate | 4.50% |
| NOI | $616,500 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 21 | - | - |
Walk Score®
Walker's Paradise (99)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (72)
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1295 Madison Ave - Chase Bank
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