TD Bank - Absolute NNN Lease - Long Island
4,100 SF | Retail Building | Lawrence, NY 11559 | $8,228,000 ($2,007/SF) | 5.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $8,228,000
- Property Type
-
Retail
- Square Feet
- 4,100 SF
- Price / Square Foot
- $2,007
Listing Contacts
Scott Plasky
Verified Profile
William Stephan
Verified Profile
- Property Info
Property Overview
The subject offering is a single-tenant net-leased TD Bank located on Rockaway Turnpike in Lawrence (Long Island), NY. This is a fee simple deal. TD Bank has five years remaining on an absolute NNN lease (zero landlord responsibilities) that runs through April 2029. TD Bank has three (5) five-year options to renew, with a 10% increase in each option period. The site has $263M in deposits.
This is a prime retail location. The site is surrounded by national retailers in every direction, and it benefits from outstanding demographics and incredible traffic counts. The traffic count directly in front of the subject property on Rockaway Turnpike is just under 82,000 vehicles per day. The traffic counts on Nassau Expressway, which starts right at the subject property, are just over 57,000 vehicles per day. The site is located right over the border to Queens (NYC) in Lawrence, which is part of the Five Towns section of Long Island.
The site sits on a 12,022 SF lot. TD Bank has a double drive-thru, and multiple points for ingress and egress along both Rockaway Turnpike and Plaza Road. The site sits directly across the street from one of the busiest Costco locations in the country. The other neighboring retailers include McDonald’s, LA Fitness, 7-Eleven, Marshall’s, Chipotle, Target, Panera Bread, and Burlington Coat Factory. This is the rare opportunity to acquire a Five Towns zero management asset with a drive-thru on one of the busiest and most heavily traveled retail corridors in all of Long Island.
This is a prime retail location. The site is surrounded by national retailers in every direction, and it benefits from outstanding demographics and incredible traffic counts. The traffic count directly in front of the subject property on Rockaway Turnpike is just under 82,000 vehicles per day. The traffic counts on Nassau Expressway, which starts right at the subject property, are just over 57,000 vehicles per day. The site is located right over the border to Queens (NYC) in Lawrence, which is part of the Five Towns section of Long Island.
The site sits on a 12,022 SF lot. TD Bank has a double drive-thru, and multiple points for ingress and egress along both Rockaway Turnpike and Plaza Road. The site sits directly across the street from one of the busiest Costco locations in the country. The other neighboring retailers include McDonald’s, LA Fitness, 7-Eleven, Marshall’s, Chipotle, Target, Panera Bread, and Burlington Coat Factory. This is the rare opportunity to acquire a Five Towns zero management asset with a drive-thru on one of the busiest and most heavily traveled retail corridors in all of Long Island.
Property Details
- Class
- B
- Year Built
- 1900
- Stories
- 1
- Property Subtype
- Freestanding
- Lot Size (sq. ft)
- 48,787 SF
Highlights
- 4,100 SF Single-Tenant Net-Leased TD Bank
- Absolute NNN Lease - Zero Management Asset
- 20-Year Lease That Runs Through 2029 With 3 x 5-Year Options to Renew
- Incredible Daily Traffic Counts and $263M in Deposits - Great Five Towns (Long Island) Location
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