730 Fulton Ave - Restaurant FOR SALE


Hempstead, NY 11550
$3,776,000 USD
917-539-0402
730 Fulton Ave, Hempstead, NY for Sale
$3,776,000 USD
Restaurant - FOR SALE
1/16
null | 6% Cap Rate

730 Fulton Ave
Hempstead, NY 11550


HIGHLIGHTS

  • Two National Tenants—Insomnia Cookies and Fresh Dining Concepts (Carvel, Cinnabon, Auntie Anne’s)
  • Brand-New 10-Year Double Net (NN) Leases with Three Percent Annual Increases
  • Corporate Guarantee From Fresh Dining Concepts, The Nation’s Largest GoTo Foods Franchisee
  • Prime Corner Location with Drive-Thru and Over 54,000 Vehicles Per Day

OVERVIEW

The subject offering is a 4,208-square-foot, two-tenant retail property located on Fulton Avenue in Hempstead (Long Island), NY. The property is 100 percent occupied by two national tenants: Insomnia Cookies and Fresh Dining Concepts (the largest franchisee in the country for Carvel, Cinnabon and Auntie Anne’s). Both tenants recently executed brand-new 10-year NN leases with three percent annual increases. This is a corner property with a drive-thru that rests on a 13,543-square-foot lot with a dedicated parking lot for 19 cars. Fulton Avenue is the most heavily traveled roadway in Hempstead. The site is surrounded by national retailers, and it is located right down the street from the entrance to Hofstra University. The offering is comprised of two separate tax lots. These are true NN leases; the tenants are responsible for all taxes, insurance, and CAM. The landlord is only financial responsibilities are for Roof & Structure. Insomnia Cookies occupies 800 square feet, all on the ground floor. They have a three percent annual increase beginning 3/30/2025. They are responsible for their proportionate share of all CAM and Taxes. Fresh Dining Concepts operates Auntie Anne’s and Cinnabon out of this location. They have a drive-thru, and they are responsible for their proportionate share of CAM and Taxes. They also have a three percent annual increase. Fresh Dining Concepts occupies 1,675 square feet on the ground floor, and the entire 1,733 square feet on the second floor (storage and offices). This is a corporate guaranteed lease from Fresh Dining Concepts, the largest franchisee in the GoTo Foods network, with 220 stores and just over $200 million in sales last year. GoTo Foods is the corporate parent for brands such as Auntie Anne’s, Carvel, Cinnabon, Jamba Juice, McAlister’s Deli, Moe’s Southwest Grill and Schlotzsky’s. They operate more than 6,400 stores, with $4 billion in yearly revenue last year, and they recently rebranded from Focus Brands to GoTo Foods.

FOR SALE DETAILS

PRICE

$3,776,000 USD

PRICE/SF

$897 USD /SF

CAP RATE

6%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

2-Tenant Retail Strip w/Drive-Thru

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1966

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,276 SF

ZONING

Business (B-2)

APN/PARCEL ID

2013-34-439-00-0248-0

ASK ABOUT THIS PROPERTY

Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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Scott PlaskyMarcus & MillichapMore Info
917-539-0402

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