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1526-1596 Union Tpke 14,651 SF 100% Leased Retail Building New Hyde Park, NY 11040 $3,623,954 CAD ($247.35 CAD/SF) 7.39% Cap Rate

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Investment Highlights

  • ±38 years remaining on long-term ground lease (through 2063)
  • 100% occupied with stabilized, predominantly NNN income stream
  • National credit tenants including Starbucks, Citizens Bank & Verizon
  • Signalized corner on Union Turnpike with 45,000+ vehicles per day

Executive Summary

Cushman & Wakefield is pleased to present 1596 Union Turnpike, a ±14,651 SF, 100% occupied multi-tenant retail investment located at the signalized intersection of Union Turnpike and New Hyde Park Road in New Hyde Park, NY.
The property is anchored by national credit tenants including Starbucks, Citizens Bank, and Verizon, providing durable cash flow supported by strong corporate credit. The asset operates under a long-term ground lease with approximately 38 years remaining, offering predictable income and site control through August 31, 2063.
With predominantly NNN expense recoveries, stabilized in-place income, and location within a dense, high-income Nassau County trade area, the offering presents a passive, institutional-quality retail investment opportunity.

Property Facts

Sale Type
Investment NNN
Sale Condition
Ground Lease (Leased Fee)
Property Type
Retail
Building Size
14,651 SF
Building Class
B
Year Built
2000
Price
$3,623,954 CAD
Price Per SF
$247.35 CAD
Cap Rate
7.39%
NOI
$267,946 CAD
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.35
Lot Size
0.96 AC
Zoning
Business A - Commercial zoning permitting a wide range of retail and service uses
Parking
46 Spaces (3.14 Spaces per 1,000 SF Leased)
Frontage
250’ on Union Turnpike

Amenities

  • Corner Lot
  • Security System
  • Signage
  • Signalized Intersection
  • Air Conditioning

Major Tenants Click Here to Access

  • Tenant
  • Industry
  • SF Occupied
  • Rent/SF
  • Lease Type
  • Lease End
  • Finance and Insurance
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Citizens Bank, the primary banking subsidiary of Citizens Financial Group, is a full-service financial institution headquartered in Providence, Rhode Island. The bank provides a comprehensive range of services, including personal and business banking, mortgage lending, wealth management, and commercial banking solutions. Citizens Bank operates an extensive branch and ATM network across multiple states, serving individuals, small businesses, and large corporations. Its offerings include checking and savings accounts, credit cards, personal loans, home equity products, and investment services. The bank also provides digital banking platforms for convenient online and mobile access. Citizens Financial Group, the parent company, is publicly traded on the New York Stock Exchange under the ticker symbol CFG. Established in 1828, Citizens Bank has grown into one of the largest regional banks in the United States, maintaining a strong focus on customer service and community engagement.

  • Karako Suits
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000
  • Accommodation and Food Services
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000

Starbucks is a publicly traded coffeehouse and beverage company focused on the sourcing, roasting, and retailing of coffee and related products. Founded in 1971 in Seattle, Washington, the company began as a retailer of whole bean coffee and coffee equipment before evolving into a café-based model in the late 1980s. Starbucks operates company-owned and licensed locations across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific region, supported by regional offices and corporate functions. The company’s operations include retail stores, roasting facilities, and supply chain infrastructure that supports both in-store and packaged goods channels. Starbucks has expanded its portfolio over time to include tea-based beverages, food offerings, and ready-to-drink products distributed through grocery and foodservice partners. The company has also developed premium concepts, including Starbucks Reserve, which emphasizes small-batch coffee and experiential retail formats. Starbucks is listed on the Nasdaq under the ticker symbol SBUX. Its corporate headquarters, known as the Starbucks Center, is located in Seattle and houses executive leadership, global operations, and administrative functions.

  • Verizon
  • Retailer
  • 99,999 SF
  • -
  • Lorem Ipsum
  • Jan 0000
Tenant Industry SF Occupied Rent/SF Lease Type Lease End
Finance and Insurance 99,999 SF - Lorem Ipsum Jan 0000
Karako Suits Retailer 99,999 SF - Lorem Ipsum Jan 0000
Accommodation and Food Services 99,999 SF - Lorem Ipsum Jan 0000
Verizon Retailer 99,999 SF - Lorem Ipsum Jan 0000
Walk Score®
Very Walkable (82)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

Nearby Major Retailers

Club Pilates
StretchLAB
HSBC
Dos Toros
Chopt
Smashburger
Citi
ShopRite
Flagstar
Jpmorgan Chase & And Co

Property Taxes

Property Taxes

Parcel Number
2289-08-117-01-0001-0
Land Assessment
$18,094 CAD
Improvements Assessment
$2,752 CAD
Total Assessment
$20,845 CAD
  • Listing ID: 39585825

  • Date on Market: 2026-02-26

  • Last Updated:

  • Address: 1526-1596 Union Tpke, New Hyde Park, NY 11040

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