380 Rockaway Tpke - Retail FOR SALE


Cedarhurst, NY 11516
$4,300,000 USD
917-539-0402
380 Rockaway Tpke, Cedarhurst, NY for Sale
$4,300,000 USD
Retail - FOR SALE
1/9
null | 6.25% Cap Rate

380 Rockaway Tpke
Cedarhurst, NY 11516


OVERVIEW

The subject offering is a single-tenant net-leased urgent care/medical practice located on Rockaway Turnpike in Cedarhurst (Long Island), New York. The property has been an urgent care facility since 2015. Suffolk Health just executed a brand-new 10-year lease for the site with three percent annual increases. This will be Suffolk Health’s third Long Island location. Suffolk Health offers comprehensive medical care in Long Island, including routine check-ups, chronic disease management, and preventative services. Our experienced providers deliver quality healthcare tailored to your needs. The tenant is responsible for paying 100 percent of the real estate taxes above the base year, as well as all the insurance and common area maintenance costs. The landlord is responsible for base-year taxes, as well as repairs to the roof and structure. The site rests on a 12,283-square-foot lot with parking for 19 cars, and 125 feet of frontage along Rockaway Turnpike, the most heavily traveled street in the area, as well as one of the busiest streets on all of Long Island. The property benefits from traffic counts of approximately 82,000 vehicles per day. The site is surrounded by major retailers in every single direction. It is next door to Starbucks and AT&T, and it is directly across the street from a shopping complex featuring Target, Marshall’s, Panera Bread, LA Fitness, Taco Bell, and Burlington.

FOR SALE DETAILS

PRICE

$4,300,000 USD

PRICE/SF

$1,024 USD /SF

CAP RATE

6.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Suffolk Health Net-Lease - New 10-Year Lease

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1962

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.28 AC

LAND SF

12,283 SF

ZONING

RB

APN/PARCEL ID

2003-39-344-00-0216-0

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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