1661 Route 112, Port Jefferson Station | Retail | $5,835,000

Home/Investment Sales/Exclusive Investment Sales/1661 Route 112, Port Jefferson Station | Retail | $5,835,000

1661 Route 112, Port Jefferson Station | Retail | $5,835,000

$5,835,000.00

  • Description: Retail building on Long Island
  • Neighborhood: Port Jefferson Station
  • Parcel Size: 4.66 Acres
  • Building Size: 12,500 SF
  • Tenant: Children of America
  • Lease Type: NNN
  • Year Built: 2013
  • Nearby Retailers: 7-Eleven, Mobil, State Farm, MoneyGram, Optimum & more
  • Asking Price: $ 5,835,000

Offering Memorandum

Details

  • 12,500 SF retail building located in Long Island on nearly a 5-acre lot
  • Absolute NNN lease with no landlord responsibilities or expenses
  • Affluent market with the average household income over $113K in the 1-mile ring and over $117K in the 3-mile ring
  • Annual 2% rental increases
  • 15 years remaining in initial lease term with two five-year options to renew – tenant has been at this location since 2013 and proven concept with lease extension for an additional 15 years in base term
  • Densely populated are with 10,661 people within 1 mile, 92,514 people within 3 miles and 196,462 people within 5 miles
  • The Net Operating Income is $350,000 NNN
  • Asking Price is $5,835,000 ~ 6% CAP RATE

Additional Information

City

Long Island

Neighborhood

Port Jefferson Station

Broker

Michelle Abramov

Price

$5,835,000

Map

 

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