3881 Richmond AveStaten Island, NY 10312

Property Details for 3881 Richmond Ave

Year built

2014

Lot size

0.24 AC

Property size (Sq ft)

3,500 SF

Zone code

R3-2

Property type

Specialty properties

APN

05497-0130

APU

54970130

Description

This exceptional investment opportunity presents a 3,483 square foot, freestanding Bank of America branch located at 3881 Richmond Avenue, Staten Island, NY 10312. The property sits on a 0.67-acre lot and boasts a 100% occupancy rate under a 20-year absolute NNN ground lease with Bank of America, a credit-rated tenant with a corporate guarantee. The lease commenced August 1, 2014, and expires July 31, 2034, leaving approximately 9.7 years remaining. The lease includes various rent bumps and two 10-year renewal options, providing long-term stability and predictable income. The property's strong financial performance is reflected in its $4,083,000 asking price, a $1,172.27 price per square foot, and a 7.00% cap rate, based on a net operating income (NOI) of $285,800. Built in 2014, this strategically located bank benefits from high visibility at a signalized intersection with significant daily vehicle traffic. The surrounding area demonstrates strong demographics, with a high average household income within a short driving radius and proximity to major shopping centers and the Eltingville Train Station, ensuring continued high traffic and strong tenant performance. This is a rare opportunity to acquire a high-quality, net-leased property anchored by a financially sound, national tenant.

• Alternative Use

  Use

  Valuation

  Residential

  $662,337

  Hospitality

  $606,697

  Educational

  $504,765

  Medical

  $522,124

  Retail

  $785,190

Location Insight

City

Staten Island

County

Richmond

State

New York

Latitude

40.5438

Longitude

-74.164

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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