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37 E Main St 3,160 SF 4-Star Retail Building Elmsford, NY 10523 $4,070,000 ($1,287.97/SF) 5% Cap Rate
Investment Highlights
- 7-Eleven is the world’s largest convenience store chain, operating, franchising, or licensing over 85,000 stores across 19 countries and regions
- Located at the signalized intersection of N Hillside Avenue and E Main Street
- Situated within one mile of the Interstate-287 on-ramp, which sees a daily traffic volume of over 97,000 vehicles
- 7-Eleven is investment grade (S&P: A-) with over 13,000 locations in United States and Canada alone
- Annual average daily traffic count of 19,213 (AADT)
- Located in the NYC MSA, the largest metropolitan area in the United States with a population of over 20,000,000
Executive Summary
RIPCO Real Estate is offering for sale a 3,160 SF commercial property at 37 East Main Street in Elmsford, NY, leased to 7-Eleven in the New York City MSA. Built in 2021, the property operates under a 15-year absolute NNN lease with 10 years remaining, 10% rent increases every five years, and four 5-year renewal options, providing stable, management-free income. The high-performing location ranks in the top 17% nationwide by visits and benefits from strong demographics, making it an attractive investment with a national credit tenant.
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Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Convenience Store
Building Size
3,160 SF
Building Class
B
LoopNet Rating
4 Star
Year Built
2021
Price
$4,070,000
Price Per SF
$1,287.97
Cap Rate
5%
NOI
$203,500
Tenancy
Single
Building Height
1 Story
Building FAR
0.20
Lot Size
0.36 AC
Zoning
CR - commercial retail
Parking
15 Spaces (4.75 Spaces per 1,000 SF Leased)
Frontage
152’ on East Main Street
Moderately walkable
60/100
Very drivable
80/100
Some public transit
50/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2605-005-040-00062-000-0007 | Improvements Assessment | $1,568,300 |
| Land Assessment | $431,700 | Total Assessment | $2,000,000 |
Property Taxes
Parcel Number
2605-005-040-00062-000-0007
Land Assessment
$431,700
Improvements Assessment
$1,568,300
Total Assessment
$2,000,000
Contacts
-
Ari Ravi -
Nathan Timmons -
Alan Miller -
Kevin Louie -
Stephen Preuss -
RIPCO Real Estate
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37 E Main St
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