1715 Sunrise HwyBay Shore, NY 11706

For Sale
$6,925,000

High-Cap Rate Retail Investment in Bay Shore

Overview

Added:
Dec 11, 2024
Days on market:
93
This exceptional investment opportunity presents a 7,659 square foot, single-tenant retail property located at 1715 Sunrise Highway in Bay Shore, New York. The property is currently leased to Olive Garden, a highly creditworthy tenant (S&P Global Rating of BBB and nearly $B in annual sales), under a lease expiring October 31, 2029, with three 5-year renewal options. Boasting a strong 5.50% cap rate and a Net Operating Income (NOI) of $383,105, this stabilized investment offers significant returns. Situated in a prime location directly off Sunrise Highway (Route 27), a major east-west artery on Long Island with an approximate 85,000 AADT, the property benefits from exceptional visibility and high traffic volume. The property is an outparcel of the South Shore Mall, a prominent shopping center anchored by major national retailers including Macy's, JCPenney, Burlington, Dick's Sporting Goods, and others, ensuring a robust and established customer base. The building, encompassing one unit across 7,659 square feet on a single story, is zoned BUS3. This presents a rare opportunity to acquire a high-performing, credit-tenant retail property in a thriving Long Island market. The property's strong financials, prime location, and long-term lease make it an attractive investment for discerning buyers seeking stable income and significant appreciation potential. The asking price is $6,925,000.

Highlights

  • $6,925,000 asking price for a stabilized retail investment.
  • 7,659 SF single-tenant Olive Garden building with a 5.50% cap rate and $383,105 NOI.
  • Lease expires 10/1/2029.
  • Prime retail location on Sunrise Highway (Route 27) in Bay Shore, NY, with ~85,000 AADT.
  • Investment-grade tenant (Olive Garden, S&P Global Rating of BBB).

Property Details for 1715 Sunrise Hwy

Property type
Lifestyle centers, Power centers
Square Feet
7,659 SF
Buildings
1
Stories
1
Units
1

Location Insight

City
Bay Shore
County
Suffolk
State
New York
Latitude
40.737444111812
Longitude
-73.244753295764
1715 Sunrise Hwy, Bay Shore, New York

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1715 Sunrise Hwy
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