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1526-1596 Union Tpke 14,651 SF 100% Leased Retail Building New Hyde Park, NY 11040 $3,669,004 CAD ($250.43 CAD/SF) 7.39% Cap Rate
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
The offering represents control of the improvements and in-place income stream, whereby ownership collects rent from tenants and is responsible for payment of the underlying ground lease.
The asset operates under a long-term ground lease with approximately 38 years remaining as of January 2026, offering predictable income durability through August 31, 2063. Combined with predominantly NNN expense recoveries, the structure creates a passive, institutional-quality investment profile.
1596 Union Turnpike is fully stabilized, including a newly executed long-term lease with Karako Suits. The Property offers investors a rare opportunity to acquire a long-duration ground lease retail asset with national credit tenancy and stable cash flow.
Property Facts
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
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- Finance and Insurance
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99,999 SF
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Citizens Financial Group began in 1984 and has grown into a major U.S. banking franchise. The company provides retail and commercial banking, wealth management, private banking, small business banking, and corporate and investment banking services. Citizens also offers student loans, home equity products, credit cards, online banking, and mobile banking, creating a broad mix of consumer and business financial services. The business serves individuals, small businesses, middle-market companies, large corporations, and institutions through a wide range of financial products and advisory solutions.
- Karako Suits
- Retailer
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99,999 SF
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Jan 0000
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- Accommodation and Food Services
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99,999 SF
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Jan 0000
Starbucks began in 1971 as a coffee business in Seattle, where the company first sold coffee beans and related equipment before evolving into a broader coffeehouse brand. The business now focuses on responsibly sourced arabica coffee, company-operated and licensed coffeehouses, and a growing consumer-packaged goods presence. Starbucks has built a wide market presence around specialty coffee, with offerings that span brewed drinks, espresso-based beverages, food, and retail products distributed through its store network and packaged-goods channels.
- Verizon
- Retailer
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99,999 SF
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Lorem Ipsum
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Jan 0000
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
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Finance and Insurance | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| Karako Suits | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
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Accommodation and Food Services | 99,999 SF | - | Lorem Ipsum | Jan 0000 | |
| Verizon | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Nearby Major Retailers
Property Taxes
| Parcel Number | 2289-08-117-01-0001-0 | Improvements Assessment | $2,752 CAD |
| Land Assessment | $18,099 CAD | Total Assessment | $20,851 CAD |
Property Taxes
Contacts
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Daniel Abbondandolo -
Joegy Raju -
Victor Little -
Lincoln Cioffi -
Cushman & Wakefield
Presented by
1526-1596 Union Tpke
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