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Farm Stores

2885 Grand Avenue, Baldwin, NY 11510

$1,866,000

Cap Rate 5.75%

DOM: 807 Updated: 10.21.24 Posted: 02.21.23 Status: Active

Summary

Price $1,866,000
Built/Renov 1964
Tenant Farm Stores
Cap Rate 5.75%
Lease Type Abs NNN
Guarantor Franchisee
Size/SF 579
Lease Start 01-01-2021
#Units 1
Price/SF $3,222.80
Expiration 12-31-2041
Tenant Type Grocery
NOI $107,313
R. Term 16.8
Ownership Fee Simple
Rent/SF $185.34
Increases 2.5%/1/yrs
Pop 5Mi 399,493
Lot/AC 0.15
Options 2/5yrs/2.5%
AHHI 5Mi $138,669

Eric Carlton
Colliers NNN Group
Contact

Jereme Snyder
Colliers NNN Group
Contact

Lease Highlights

  • Farm Stores is America’s only double drive-thru convenience store concept
  • Farm Stores has 17+ years remaining in its initial lease with 2 (5-year) options to extend
  • Lease features 2.5% annual rent increases throughout initial term and options
  • Absolute NNN lease | Zero landlord responsibilities 
  • Ideal 1031 Exchange asset
  • Four strong personal guarantees

Location Description

The subject property is well positioned at a signalized, corner intersection of Grand Avenue and Atlantic Avenue, one of the main thoroughfares of Baldwin, New York which sees over 27,500 vehicles per day. The asset is surrounded by numerous single-family developments, Steele Elementary School (325 students) and Baldwin Union Free School District administrative offices (over 300 employees), as...

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Key Features

  • Signalized intersection

  • Hard corner intersection

  • Strategically located

  • Dense 200M+ pop 5 mi

  • Top 100 MSA

  • Strong demographics

  • Affluent AHHI $100K 5 Mi

  • Absolute NNN

  • Annual rent increases

  • Personal guarantee

    • ...

Links

Farm Stores Wikipedia Baldwin, New York Zip Code 11510 Broker Site Page

Documents

Download OM

Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

  • Tenant: Farm Stores
  • Guarantor:Franchisee
  • Company:Four personal guarantees
  • # Units:1
  • Stock:Private

About Tenant

Farm Stores (also known as Swiss Farm Stores) is an American grocery retailer that uses drive-thru lanes to sell grocery and food service items that consumers purchase most frequently. The drive-...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 22,760 153,000 413,344
2023 Total Population : 23,144 154,401 415,731
2023 Employed Civilian Pop : 12,280 80,649 218,001
2023 Total Businesses : 572 6,151 14,744
2023 Average Household Income : $ 165,675 $ 159,553 $ 161,943
2023 Total Consumer Spending : $ 1072 M $ 6916 M $ 18545 M
2023 Median Age : 44 42 42
2023 Total Households : 7,787 51,732 136,679
2023 Pop Age 25+: Bachelor's Degree : 3,916 27,697 74,607
2023 Average Home Value : $ 572,305 $ 596,464 $ 619,001
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Atlantic Avenue Gordon Pl 2021 30,710 0.14 mi
Clifford Ct 2021 758 0.17 mi
Verity Lane Church St 2021 2,473 0.17 mi
Atlantic Ave Brower Ave 2016 28,165 0.19 mi
Grand Blvd 2021 159 0.23 mi
Grand Blvd Pacific St 2019 3,618 0.23 mi
Grand Boulevard Pacific St 2021 3,401 0.23 mi
Grand Ave Jefferson St 2016 5,256 0.35 mi
Grand Avenue Adele Ave 2021 8,562 0.40 mi
Grand Blvd McKinley St 2019 2,759 0.47 mi

Listing Broker

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