TD Bank - Maspeth (Queens), NY
7355 Grand Ave
TD Bank - Maspeth (Queens), NY - Retail for sale
•TD Bank is operating on a triple-net lease with 15 years of primary term remaining, offering a completely passive long-term investment.
•The lease features ten percent rent escalations every five years throughout the primary term.
•Deposits have grown significantly on an annual basis since this branch opened in 2013. Over the past five years, deposits have grown from $3.25 million to $45.73 million.
•The tenant carries an investment-grade ‘Aa2’ Moody’s credit rating, providing security to the underlying cash flows. TD Bank is one of the ten largest banks in the United States with over 1,200 bank branch locations.
•Located within the borough of Queens near the Long Island Expressway (162,000 VPD), the Asset has exposure to a dense consumer base of over 107,000 residents within a one-mile radius.
|Tenure Type||Sale / Purchase|
|Property Address||7355 Grand Ave, Maspeth, NY 11378-1523|
|Building Size||2,950 ft2|
|Tenant's Name||TD Bank|
|Credit Rating (S&P)||AA-|
|Credit Rating (Moody's)||Aa2|
|Lease Expiration Date||11/30/2033|
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