1526-1596 Union Tpke - Retail FOR SALE


New Hyde Park, NY 11040- North New Hyde Park
$2,650,000 USD
631-425-1233
1526-1596 Union Tpke, New Hyde Park, NY for Sale
$2,650,000 USD
Retail - FOR SALE
1/4
null | 7.39% Cap Rate

1526-1596 Union Tpke
New Hyde Park, NY 11040
North New Hyde Park


HIGHLIGHTS

  • ±38 years remaining on long-term ground lease (through 2063)
  • National credit tenants including Starbucks, Citizens Bank & Verizon
  • 100% occupied with stabilized, predominantly NNN income stream
  • Signalized corner on Union Turnpike with 45,000+ vehicles per day

OVERVIEW

Cushman & Wakefield is pleased to exclusively present the leasehold interest in 1596 Union Turnpike, a ±14,651 SF multi-tenant retail center located at the signalized intersection of Union Turnpike and New Hyde Park Road in New Hyde Park, NY. The offering represents control of the improvements and in-place income stream, whereby ownership collects rent from tenants and is responsible for payment of the underlying ground lease. The asset operates under a long-term ground lease with approximately 38 years remaining as of January 2026, offering predictable income durability through August 31, 2063. Combined with predominantly NNN expense recoveries, the structure creates a passive, institutional-quality investment profile. 1596 Union Turnpike is fully stabilized, including a newly executed long-term lease with Karako Suits. The Property offers investors a rare opportunity to acquire a long-duration ground lease retail asset with national credit tenancy and stable cash flow.

FOR SALE DETAILS

PRICE

$2,650,000 USD

PRICE/SF

$181 USD /SF

CAP RATE

7.39%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.96 AC

LAND SF

41,818 SF

ZONING

Business A

APN/PARCEL ID

2289-08-117-01-0001-0

ASK ABOUT THIS PROPERTY

Daniel AbbondandoloCushman & WakefieldMore Info
631-425-1233

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Daniel AbbondandoloCushman & WakefieldMore Info
631-425-1233

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.