- 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
1661 Route 112, Port Jefferson Station | Retail | $5,835,000
$5,835,000.00
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 |
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