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INVESTMENT HIGHLIGHTS
Zero Landlord Responsibilities- This lease features zero landlord responsibilities, creating a passive armchair investment for a cashflow-driven investor. Absolute NNN leases are especially attractive for those seeking management-free investment opportunities in the NYC area.
Annual Rental Escalations - This offers an investor the opportunity to acquire a Absolute NNN property with extremely rare 3% annual escalations. This is more than double the typical national bank lease that offers either 10% increases every 5 years or 1.5% annual increases.
High Bank Deposits- The average bank deposits at this branch are 20% higher than the surrounding area’s average. Strong performance indicates Citibank plans to exercise their renewal options to maintain their market share in NYC.
Nassau County - Farmingdale is an incorporated village on Long Island within the Town of Oyster Bay in Nassau County, New York. Nassau is the most densely populated and second-most populous county in New York State.
Strong Demographics - The subject property is surrounded by a population of 379,440 within a 5-mile radius and an average household income of approximately $163,422 within a 3-mile radius.
Investment Grade Tenant- The lease is guaranteed by Citigroup with an A credit rating by S&P.
Upside & Development Potential- This site sits on an almost 2-acre parcel in a land-constrained area of Long Island, providing valuable land area and development upside for a new owner.
