Listed by Cushman & Wakefield - Melville, New York
$5,600,000
269 Old Walt Whitman Road
Details
APN 232 / 400 / 11.1
Property Type Retail
Sub Type Storefront
Square Footage 9,600
Cap Rate 6.01%
NOI $336,800
Occupancy 100%
Tenancy Single
Lease Type NN
Lease Term 10
Lease Expiration 12/31/2036
Remaining Term 10.5
Rent Bumps Yes
Lease Options Three, 5-Year Options
Year Built 1980
Year Renovated 2026
Acreage 0.780
Zoning General Business A (C-8)
Parking Spaces 32 spaces
Parking per 1,000 SqFt 3.33
Investment Type Net Lease
Lease Commencement 12/31/2026
Ground Lease No
Fortunoff Backyard Store | New 10-Year NN Lease | Across from Walt Whitman Shops
Marketing description
Property Website / Deal Room Link
The property comprises approximately 9,600 square feet above grade, a full 9,600-square-foot basement and 32 on-site parking spaces on approximately 0.78 acres. Fortunoff Backyard Store recently executed a new 10-year NN lease through December 2036, with three five-year renewal options, 10% rent increases every five years and full reimbursement of real estate taxes and landlord insurance. The property is located directly across from Walt Whitman Shops along the Route 110 retail corridor.
To access the full Offering Memorandum and detailed financial information, visit the Property Website and select Access Deal Room. Access will be provided upon execution of a Cushman & Wakefield Confidentiality Agreement.
Investment highlights
- Brand-new 10-year NN lease through December 2036
- Three five-year renewal options with 10% rent increases every five years
- Tenant reimburses 100% of real estate taxes and landlord insurance
- Recently renovated ±9,600 SF freestanding retail asset with a full ±9,600 SF basement
- ±32 on-site parking spaces situated on approximately 0.78 acres
- Directly across from Walt Whitman Shops along the Route 110 retail corridor
Listing Contacts
Listed by Cushman & Wakefield - Melville, New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$336,800.00
$28,066.67/mo
Valuation Metrics
0
DSCR
6.01%
Cap Rate
6.01%
ROI
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