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NEW YORK, NY – September 11, 2012 – Ariel Property Advisors is seeking proposals for a commercial property at 462-470 5th Avenue on the corner of 10th Street in Park Slope, Brooklyn, which houses Rite Aid as a triple net lease tenant.
The national retailer has leased the building since 1998 and its lease will continue through June 2018. Rite Aid also has four, five-year options.
“In addition to being a reliable income-producing property, the 12,908-square-foot, single story building features an estimated 22,908 square feet of unused air rights,” said Jonathan Berman, vice president of Ariel Property Advisors. “There is a tremendous amount of future upside in owning prime retail space on 5th Avenue, which is one of the main retail corridors serving the vibrant Park Slope neighborhood.”
For more information about this property or to request a marketing booklet, please contact our exclusive agents at 718-475-9800, Jonathan Berman, ext. 20, or jberman@arielpa.com; Shimon Shkury, ext 11, or sshkury@arielpa.com; Victor Sozio, ext. 12, or vsozio@arielpa.com; and Michael A. Tortorici, ext. 13, or mtortorici@arielpa.com.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via mploc@arielpa.com
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.
