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- LoopNet Team
61-15 Metropolitan Ave
Ridgewood, NY 11378
CVS Pharmacy · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Approximately 18 Years Remaining on an Original 25-Year Double-Net (NN) Lease
- Four (4), Five (5) Year Tenant Renewal Options
- Positioned on an Oversized 1.38 Acre Lot
- 10% Increases Every Five Years
- Corporate Guarantee from CVS Health Corporation (NYSE: CVS) – S&P: BBB+
- 56 Car Parking Lot with Drive-Thru
PROPERTY FACTS
AMENITIES
- Corner Lot
- Signage
- Signalized Intersection
- Drive Thru
ABOUT 61-15 METROPOLITAN AVE , RIDGEWOOD, NY 11378
The subject investment property is situated on the hard corner of Metropolitan Avenue and Fresh Pond Road. Metropolitan Avenue boasts average daily traffic counts exceeding 22,800 vehicles. Metropolitan Avenue intersects Fresh Pond Road which brings in an additional 23,200 vehicles into the immediate are on average daily. There are more than 1,089,000 individuals residing within a three-mile radius of the subject property and more than 3,019,000 individuals within a five-mile radius of the subject property. This CVS Pharmacy investment property benefits from being well-situated in a highly dense retail corridor consisting of many national and local tenants, shopping centers, medical centers, and airports. Major national tenants in the area include: Wendy's, Dunkin’ Donuts, Pizza Hut, Subway, Boston Market, 7-Eleven, CitGo, BP, Pep Boys, Midas, Shell, Hertz, Gulf, Enterprise Rent-A-Car, TD Bank, and many more. The investment property also benefits from being situated in a dense medical corridor consisting of many public and private practices including NYU Langone International Medicine at Middle Village. The subject CVS Pharmacy is also situated between two of the New York Metropolitan area’s busiest Airports, John F. Kennedy International Airport and LaGuardia Airport. John F. Kennedy International Airport and LaGuardia Airport serve a combined 99,000,000 passengers in 2018. Ridgewood is a neighborhood in the New York City borough of Queens. It borders the neighborhoods of Maspeth, Middle Village, and Glendale, as well as the Brooklyn neighborhoods of Bushwick and East Williamsburg. Ridgewood is approximately 5 miles outside of New York City, New York. New York is devised into five boroughs – Brooklyn, Queens, Staten Island, The Bronx, and the best known of all, Manhattan. Manhattan is home to the city’s top attractions such as the Empire State Building, Central Park, Time Square, the Chrysler Building, Madison Square Garden, Broadway, and many more. The city is also known for being one of the worlds top financial hubs being home to many large banks and Fortune 500 Companies. New York City is also known for being a so called “melting pot” as visitors and residence come from all streams of life.
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $676,710 | |
| Land Assessment | $983,160 | Total Assessment | $1,659,870 |
PROPERTY TAXES
