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168 Atlantic Ave 3,034 SF Retail Building Freeport, NY 11520 $4,000,000 ($1,318.39/SF)
Investment Highlights
- Traffic light corner
- Net leased to Starbucks (S&P: BBB+)
- Single tenant
Executive Summary
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 168 Atlantic Avenue in Freeport, NY. This 3,034 SF single tenant freestanding building is situated on a 16,553 SF lot and fully occupied by Starbucks.
Situated at the northwest corner of Atlantic Avenue and Guy Lombardo Avenue, this location benefits from high visibility at a traffic light intersection with easy access to Sunrise Highway and the Meadowbrook Parkway. The property has 22 parking spaces on site and is located along a dense commercial corridor with high traffic counts (30,000+ combined AADT), surrounded by a diverse mix of national and local retailers.
This opportunity offers investors a chance to acquire a quality asset with minimal landlord responsibilities in a desirable trade area, occupied by a café-format Starbucks that reflects CEO Brian Niccol’s ‘Back to Starbucks’ strategy of returning the brand to its community coffee house roots.
More than 48,000 residents live within a three-mile radius of the site, with a median household income of more than $123,000.
Situated at the northwest corner of Atlantic Avenue and Guy Lombardo Avenue, this location benefits from high visibility at a traffic light intersection with easy access to Sunrise Highway and the Meadowbrook Parkway. The property has 22 parking spaces on site and is located along a dense commercial corridor with high traffic counts (30,000+ combined AADT), surrounded by a diverse mix of national and local retailers.
This opportunity offers investors a chance to acquire a quality asset with minimal landlord responsibilities in a desirable trade area, occupied by a café-format Starbucks that reflects CEO Brian Niccol’s ‘Back to Starbucks’ strategy of returning the brand to its community coffee house roots.
More than 48,000 residents live within a three-mile radius of the site, with a median household income of more than $123,000.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
3,034 SF
Building Class
C
Year Built/Renovated
1994/2024
Price
$4,000,000
Price Per SF
$1,318.39
Tenancy
Single
Building Height
1 Story
Building FAR
0.18
Lot Size
0.38 AC
Zoning
Business B - Stores and shops for the conducting of any retail business
Parking
22 Spaces (7.25 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Corner Lot
- Restaurant
- Signage
- Signalized Intersection
Moderately walkable
70/100
Fairly drivable
50/100
Some public transit
40/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 2009-62-113-00-0218-0 | Improvements Assessment | $4,326 |
| Land Assessment | $3,478 | Total Assessment | $7,804 |
Property Taxes
Parcel Number
2009-62-113-00-0218-0
Land Assessment
$3,478
Improvements Assessment
$4,326
Total Assessment
$7,804
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168 Atlantic Ave
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