A store lease is a contract between a landlord and a tenant for the rental of commercial retail space. The tenant pays rent to the landlord in exchange for the right to use the property for their business. The store lease typically outlines the terms of the agreement, such as the length of the lease, the amount of rent, the responsibilities of the landlord and tenant, and the conditions of renewal or termination. There are several types of store lease, such as net leases, gross leases, modified gross leases, and percentage leases. Net leases require the tenant to pay a base rent plus a share of the operating costs of the property, whereas gross leases require the tenant to pay a flat rate for the entire space. Modified gross leases combine elements of a net and gross lease, and percentage leases are based on a percentage of the tenant’s sales.
Store Lease
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FAQ
Based on publicly available commercial real estate leasing data, the average asking rent for New York office space is around $80 per square foot, and units in Class A buildings are a little under $90 per square foot.
Times Square office space costs an average of just over $83.25 per square foot to rent. This pricing is slightly below the $86 per square foot Midtown Manhattan average. Times Square's pricing is comparable to that of Penn Plaza, the Garment District, and Greenwich Village.
A Price range for retail space in NYC is about $30 to $50 per square foot.
How much does retail space cost NYC? The cost of retail space in NYC can vary greatly, depending on the size and location of the space. In general, the average price of a single retail space in NYC is around $870 per square foot.
A Price range for retail space in NYC is about $30 to $50 per square foot.
Gross leases are most common for commercial properties such as offices and retail space. The tenant pays a single, flat amount that includes rent, taxes, utilities, and insurance.
The average cost for Retail Space for lease in Queens is about $51.66 per square foot. Factors such as location, age of building, amenities, lease options, etc. help determine the rent for Retail Space in Queens, NY.
A more modest retail space in a less popular area could be as little as $10 SF/YR. For a space of around 1,500 square feet, this would translate to anywhere from $15,000 to $42,000 per year or $1,250 to $3,500 per month. If an area seems too expensive at first, consider how the expense might be worth it.