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741 Montauk Hwy 1,607 SF Retail Building Shirley, NY 11967 $3,454,902 CAD ($2,149.91 CAD/SF) 5.33% Cap Rate
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
$3,454,902 CAD
Price Per SF
$2,149.91 CAD
Cap Rate
5.33%
NOI
$184,261 CAD
Tenancy
Single
Building Height
1 Story
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’ on Montauk Hwy
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0200-850-00-04-00-023-001 | Improvements Assessment | $10,896 CAD |
| Land Assessment | $2,442 CAD | Total Assessment | $13,337 CAD |
PROPERTY TAXES
Parcel Number
0200-850-00-04-00-023-001
Land Assessment
$2,442 CAD
Improvements Assessment
$10,896 CAD
Total Assessment
$13,337 CAD
CONTACTS
-
Jon Squires -
Daniel Abbondandolo -
Austin Weiner -
Josh Neustadter -
Cushman & Wakefield
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741 Montauk Hwy
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