Cushman & Wakefield has been retained on an exclusive basis to sell a retail building at 180 McLean Avenue, located between Loudon and Penton Streets in Yonkers, Westchester County. The asking price is $4,000,000.

The single story building sits on a 286.53 ft by 104.13 ft lot. It features 112 ft of frontage on McLean Avenue, which sees a daily traffic count in excess of over 14,000 vehicles per day. The building also features a 35 space parking lot and benefits from approximately 26,820 square feet of air rights which could allow for a future expansion or re-development.

The building is currently leased to Duane Reade who pays $363,000 per year and reimburses for the real estate taxes over base year 2007. The original lease for the property expires in September 2020 and has three five-year options at predetermined rents. Duane Reade currently sub-leases the building to Family Dollar, which has over 13,000 stores nationwide and was recently acquired by Dollar Tree, whose debt is rated Ba2 by Moody's.

“This is a rare opportunity to acquire a high cash flowing, low maintenance asset with future as a re-development,” said Cushman & Wakefield’s James Nelson who is exclusively marketing this property with Caroline Hannigan and Bill Eisenhut.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. The firm’s 43,000 employees in more than 60 countries provide deep local and global insights that create significant value for occupiers and investors around the world. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.