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Sunoco - Absolute NNN Lease - Long Island 655 Peninsula Blvd 1,908 SF Retail Building Hempstead, NY 11550 $3,330,000 ($1,745.28/SF) 5.26% Cap Rate
INVESTMENT HIGHLIGHTS
- Absolute NNN Leased Sunoco Gas Station Corporately Guaranteed by Sunoco, LP, North America’s Largest Independent Fuel Distributor
- Fee Simple Ownership with Accelerated Depreciation and Zero Landlord Responsibilities
- Strategically Positioned Near Southern State Parkway (142,000 Vehicles Per Day)
- Recently Extended Lease Through 2030 with Two Five-Year Renewal Options and Built-In Three Percent Annual Rent Increases
- High-Exposure Corner Location with Three Curb Cuts, Eight Fuel Pumps, and A-Plus Convenience Store Along Peninsula Boulevard with 40,000+ VPD
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the subject offering, a single-tenant net-leased Sunoco gas station located on Peninsula Boulevard in Hempstead (Long
Island), New York. The lease is corporately guaranteed by Sunoco, LP, North America’s largest independent fuel distributor with $20 billion in annual revenue, and
a market capitalization of $14.5 billion.
Sunoco has been at this location since 1993, and they recently just extended their lease through 2030, with two (5) five-year options to renew. The lease calls for
three percent annual increases. This is an absolute NNN lease with zero landlord responsibilities.
The offering is a fee simple deal, and it is eligible for accelerated depreciation. The location has eight gas pumps and an A-Plus Convenience Store. The property
rests on a 27,442 SF lot with three curb cuts for ingress and egress onto Peninsula Boulevard (40K+ vehicles per day traffic count).
The site is strategically located right off Southern State Parkway, which averages traffic counts of more than 142,000 vehicles per day, and it is surrounded by local
and national retailers such as Dunkin’, Taco Bell, McDonald’s, Aldi and TD Bank. The offering is also directly across the street from Hempstead High School, which
enrolls more than 2,000 students.
Hempstead is located in Nassau County in Long Island, it is the most heavily populated village in the state of New York, and the most populated municipality in all
of Long Island. The offering is 21 miles from midtown Manhattan, and it presents the rare opportunity to acquire an absolute NNN leased asset in Metro NYC with
a major credit tenant and three percent annual increases.
Island), New York. The lease is corporately guaranteed by Sunoco, LP, North America’s largest independent fuel distributor with $20 billion in annual revenue, and
a market capitalization of $14.5 billion.
Sunoco has been at this location since 1993, and they recently just extended their lease through 2030, with two (5) five-year options to renew. The lease calls for
three percent annual increases. This is an absolute NNN lease with zero landlord responsibilities.
The offering is a fee simple deal, and it is eligible for accelerated depreciation. The location has eight gas pumps and an A-Plus Convenience Store. The property
rests on a 27,442 SF lot with three curb cuts for ingress and egress onto Peninsula Boulevard (40K+ vehicles per day traffic count).
The site is strategically located right off Southern State Parkway, which averages traffic counts of more than 142,000 vehicles per day, and it is surrounded by local
and national retailers such as Dunkin’, Taco Bell, McDonald’s, Aldi and TD Bank. The offering is also directly across the street from Hempstead High School, which
enrolls more than 2,000 students.
Hempstead is located in Nassau County in Long Island, it is the most heavily populated village in the state of New York, and the most populated municipality in all
of Long Island. The offering is 21 miles from midtown Manhattan, and it presents the rare opportunity to acquire an absolute NNN leased asset in Metro NYC with
a major credit tenant and three percent annual increases.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Building Size
1,908 SF
Year Built
1993
Price
$3,330,000
Price Per SF
$1,745.28
Cap Rate
5.26%
NOI
$175,000
Tenancy
Single
Building Height
1 Story
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Sunoco
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
-
Jan 0000
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Sunoco | Retailer | 99,999 SF | - | Lorem Ipsum | Jan 0000 |
Walk Score®
Very Walkable (70)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 2013-34-G-00-0050-0 | Improvements Assessment | $1 |
| Land Assessment | $5,376 | Total Assessment | $5,377 |
PROPERTY TAXES
Parcel Number
2013-34-G-00-0050-0
Land Assessment
$5,376
Improvements Assessment
$1
Total Assessment
$5,377
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Sunoco - Absolute NNN Lease - Long Island | 655 Peninsula Blvd
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