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2343 Middle Country Rd 8,459 SF Retail Building Centereach, NY 11720 $3,500,000 ($413.76/SF) 6.21% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN lease with no landlord responsibilities
- Freestanding building on 1 acre lot
- 3% annual increases beginning in year 5
EXECUTIVE SUMMARY
RIPCO Real Estate has been retained on an exclusive basis to arrange for the sale of 2343 Middle Country Road, Centereach.
The 8,459 SF retail building is situated on a 1-acre lot on Middle Country Road (Route 25) and is currently occupied by REPS Athletic Training Center on a triple net lease basis.
REPS has a new 10-year lease with two 5-year options and 3% annual increases beginning in year 5. The property has on-site parking for 42 cars.
Located in a dense retail corridor with an average daily traffic count of 40,274 VPD and a median household income of $124,000 in a 1-mile radius.
The 8,459 SF retail building is situated on a 1-acre lot on Middle Country Road (Route 25) and is currently occupied by REPS Athletic Training Center on a triple net lease basis.
REPS has a new 10-year lease with two 5-year options and 3% annual increases beginning in year 5. The property has on-site parking for 42 cars.
Located in a dense retail corridor with an average daily traffic count of 40,274 VPD and a median household income of $124,000 in a 1-mile radius.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
8,459 SF
Building Class
C
Year Built/Renovated
2005/2025
Price
$3,500,000
Price Per SF
$413.76
Cap Rate
6.21%
NOI
$217,200
Tenancy
Single
Building Height
1 Story
Building FAR
0.19
Lot Size
1.00 AC
Zoning
J-2 - J Business 2
Parking
42 Spaces (4.97 Spaces per 1,000 SF Leased)
Frontage
120’ on Middle Country Road
AMENITIES
- Pylon Sign
- Signage
- Air Conditioning
Walk Score®
Very Walkable (75)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0200-515-00-01-00-003-000 | Improvements Assessment | $7,000 |
| Land Assessment | $500 | Total Assessment | $7,500 |
PROPERTY TAXES
Parcel Number
0200-515-00-01-00-003-000
Land Assessment
$500
Improvements Assessment
$7,000
Total Assessment
$7,500
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2343 Middle Country Rd
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