741 Montauk Hwy
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741 Montauk Hwy
1,607 SF Retail Building Shirley, NY 11967 £1,936,564 (£1,205/SF) 5.33% Net Initial Yield
Executive Summary
Cushman & Wakefield is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of the gas station property 741 Montauk Highway. Located in Shirley, Long Island, 741 Montauk Highway is a 25,700 square foot lot improved by a 1,607 square foot retail and auto repair building. The property is currently occupied by BP Products North America on a NNN basis with
9 years remaining on the current lease. BP Products North America has three (3) 5-year extension options and the r ent increases 10% every 5-years.
The subject property is within a 3-minut e drive away from stores such as Chipotle, Taco Bell, Pizza Hut, Kohl’s, CVS, Burger King, McDonald’s and many more. It is also accessible via Sunrise Highway and the William Floyd Parkway.
With its incredible location, 741 Montauk Highway provides an amazing opportunity for an investor to acquire a fully leased gas station in a great neighborhood.
9 years remaining on the current lease. BP Products North America has three (3) 5-year extension options and the r ent increases 10% every 5-years.
The subject property is within a 3-minut e drive away from stores such as Chipotle, Taco Bell, Pizza Hut, Kohl’s, CVS, Burger King, McDonald’s and many more. It is also accessible via Sunrise Highway and the William Floyd Parkway.
With its incredible location, 741 Montauk Highway provides an amazing opportunity for an investor to acquire a fully leased gas station in a great neighborhood.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Service Station
Building Size
1,607 SF
Building Class
C
Year Built
1960
Price
£1,936,564
Price Per SF
£1,205
Net Initial Yield
5.33%
NOI
£103,283
Tenancy
Single
Number of Floors
1
Building FAR
0.06
Lot Size
0.59 AC
Zoning
J Business 5
Parking
17 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
38 ft on Montauk Hwy
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 0200-850-00-04-00-023-001 | Improvements Assessment | £6,041 |
| Land Assessment | £1,354 | Total Assessment | £7,394 |
PROPERTY TAXES
Parcel Number
0200-850-00-04-00-023-001
Land Assessment
£1,354
Improvements Assessment
£6,041
Total Assessment
£7,394
Contacts
-
Jon Squires -
Daniel Abbondandolo -
Austin Weiner -
Josh Neustadter -
Cushman & Wakefield
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741 Montauk Hwy
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