2 Pumphouse Rd | Vestal Township, NY 13850
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2 Pumphouse Rd
Vestal Township, NY 13850
Prestige Portraits (Shutterfly Inc.) · Retail Property For Sale
Investment Highlights
- 11.98% CAP on Rent From the Largest School Portrait Vendor in the Country
- Tenant Recently Acquired by Shutterfly, Inc. - Wholly Owned Subsidiary (W.O.S.)
- 9,000+ People with and Average Household Income of $53,000+ in a One-Mile Radius
- 10 Year Historical Occupancy
- Below Market Rent - $7.97 Per Foot
- NN Lease - Landlord Responsible Only for Cap Ex Greater than $5k, Roof and Structure
Property Facts
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
6,000 SF
Building Class
C
Year Built
1900
Tenancy
Single
Building Height
2 Stories
Building FAR
0.12
Lot Size
1.15 AC
Zoning
C-1
Parking
30 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
442’ on Pumphouse Rd
Amenities
- Signage
About 2 PUMPHOUSE RD , VESTAL TOWNSHIP, NY 13850
The subject property is leased to Lifetouch National School Studios, which was recently acquired by and is now a subsidiary of Shutterfly, Inc. The lease goes through February of 2021 and provides for one three-year option with a 3% increase. Asking rents for single tenant buildings in the Binghamton-Endicott-Vestal area are substantially higher than the subjects rent and are in the $20-30 psf range, which will provide for future upside.
Property Taxes
| Parcel Number | 034800-157-018-0001-029-000-0000 | Improvements Assessment | $294,450 |
| Land Assessment | $105,600 | Total Assessment | $400,050 |
Property Taxes
Parcel Number
034800-157-018-0001-029-000-0000
Land Assessment
$105,600
Improvements Assessment
$294,450
Total Assessment
$400,050
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