Asset Commercial Realty Group (“AssetCRG”) represented the landlord exclusively and Joseph Mastov, Director of Asset Commerical Realty Group, represented Arby’s to occupy the ground floor which will be a built to suit drive-thru, taking approximately 2,800 SF. Asset Commercial Realty group facilitated a 15-year lease with options.
360-370 Atlantic Avenue , Freeport, NY 11520 (Arby’s)
Details
- Highly trafficked area with busy intersection of Atlantic Ave and S Bayview Ave
- Heavy car and pedestrian traffic on both sides of the street
- Next to national tenants which include Dunkin’ Donuts, CVS, 7-Eleven, Atlantic Auto Body, Sunoco Gas Station, Boston Market, Chase Bank, Carvel, Shopping Malls, and many more.
- This property is around a few schools such as: Archer Street Elementary School, Leo F. Giblyn Elementary School, Carousel of Learning, as well as a few privatized daycare homes.
- Next to a bus station along S Bayview Ave and Atlantic Ave
- Several layout opportunities with built to suit options
- Full on-site parking for usage and much street parking available
Additional Information
| City | Queens |
|---|---|
| Neighborhood | Freeport |
| Broker | Albert Aranbaev, Michelle Abramov |
| Minimum Space Available | 1 SF |
| Maximum Space Available | 21,000 SF |
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Remarks at Closing:
– Closed for 5.1% CAP
– AT&T has been a tenant for 15 years
– Recently completed a 10-year term and 5-year option ending in Dec. 2017 & has renewed early and requested (2) 3-year extensions on existing renewals
– Tenant has done a complete interior renovation and is strongly committed to the site
– High traffic busy corner location, many national retailers located nearby, out-parcel to a larger center
– Landlord pays taxes/CAM and 100% reimbursed by tenant. LL responsible for roof/structure -
Details: AssetCRG handled this sale transaction in which the building owner needed a quick sale in a timely and professional matter. AssetCRG represented the purchaser, a developer, who saw the analyzed value and potential and engaged in a quick all-cash transaction. The building is roughly 35,000 square feet. AssetCRG subsequently leased the building to two national tenants: Children of America and Retro Fitness.
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- AssetCRG represented both the buyer and the seller
- Sold For: $ 1,175,000
- Asset Type: Mixed-Use Property
- Square Footage: 3,430 SF with separate basements for each unit
- CAP: 5%
- PPSF: $ 350
