Suffolk Health Net-Lease - New 10-Year Lease 380 Rockaway Tpke 4,200 SF Retail Building Cedarhurst, NY 11516 $5,948,577 CAD ($1,416.33 CAD/SF) 6.25% Cap Rate

The subject offering is a single-tenant net-leased urgent care/medical practice located on Rockaway Turnpike in Cedarhurst (Long Island), New York. The property has been an urgent care facility since 2015. Suffolk Health just executed a brand-new 10-year lease for the site with three percent annual increases. This will be Suffolk Health’s third Long Island location.
Suffolk Health offers comprehensive medical care in Long Island, including routine check-ups, chronic disease management, and preventative services. Our experienced providers deliver quality healthcare tailored to your needs. The tenant is responsible for paying 100 percent of the real estate taxes above the base year, as well as all the insurance and common area maintenance costs. The landlord is responsible for base-year taxes, as well as repairs to the roof and structure.
The site rests on a 12,283-square-foot lot with parking for 19 cars, and 125 feet of frontage along Rockaway Turnpike, the most heavily traveled street in the area, as well as one of the busiest streets on all of Long Island. The property benefits from traffic counts of approximately 82,000 vehicles per day. The site is surrounded by major retailers in every single direction. It is next door to Starbucks and AT&T, and it is directly across the street from a shopping complex featuring Target, Marshall’s, Panera Bread, LA Fitness, Taco Bell, and Burlington.