Lowe’s Ground Lease & Out Parcels

5283 Route 23 - Oneonta NY 13820

LTV (Loan to Value)	65.00%	Current NOI	$0.00
Interest Rate	4.250%	Capital Rate	0.000%
Fixed Term	10 Years	Land Area	21.42 Acres
Amortization	25 Years	Lease Type	NNN
Loan Amount	$3,427,450.00	Property Type	Retail
Payment	$18,567.80	Property Lease	Home Improvement
Bulding Size	138,134 SF(166,563 SF including garden center)	Remaining Terms	More than 10 Years

Location Description

Ground Lease provision requires execution of Confidentiality Agreement prior to release of rent information. Please contact Broker for assistance.NNN Lenders is pleased to offer for sale to qualified investors a corporately guaranteed Lowe’s Home Improvement Ground Lease and adjacent out parcels (the “Property”) located in Oneonta, New York. Serviced by State Route 23 and Interstate 88, Oneonta is located midway between Albany and Binghamton in central New York state.Situated on nearly 25 acres in total, the Lowe’s ground lease covers 21.42 acres of the site. The 138,134 SF store opened for business in 2005, and has nearly (11) years remaining on the original twenty (20) year lease. There are also five (5), five (5) year options available with a 10% rent increase in the first option and 5% increases thereafter. The balance of the site contains two undeveloped out parcels fronting State Route 23. Measuring approximately 2.37 and 1.12 acres respectively, each provides exceptional upside should the Landlord opt to sell or develop either site.

Highlights

Corporate Guaranty – Oneonta ground lease is corporately guaranteed by Lowe’s Companies, Inc. With a net worth of more than…

Property Description

Oneonta is a city in southern Otsego County, New York. Oneonta is home to the State University of New York at Oneonta and Hartwick College. Approximately 5,800 students attend SUNY Oneonta while approximately 1,500 students are enrolled at Hartwick.Oneonta’s downtown business district features coffee shops, ethnic cuisine, several consignment stores and a variety of locally owned specialty shops. The Main Street Plaza is home to the Oneonta Farmers’ Market, which features seasonal products year-round. Oneonta has public parks and trails for hiking, biking, fishing, ice skating and cross country skiing. One of the community’s most popular events is the annual Pit Run, which draws hundreds of runners, walkers and spectators to the city’s Neahwa Park.Oneonta has strong regional tourism with National Soccer Hall of Fame, the National Baseball Hall of Fame, as well as numerous cultural, historic and natural attractions.Oneonta is approximately 80 miles southwest of Albany, New York. Albany is the state capital of New York and the seat of Albany County. The area’s 2010 population was 870,716, the 4th-largest MSA in New York and the 58th largest in the country.