Listed by ParaSell Inc, Hanley Investment Group
$4,290,000
ALDI | Long Island (Central Islip), NY
Details
Property Type Retail
Sub Type Bank, QSR/Fast Food
Square Footage 20,259
Net Rentable (SqFt) 20,259
Units 1
Cap Rate 4.15%
NOI $178,000
Occupancy 100%
Tenancy Single
Brand/Tenant 7-Eleven, Starbucks
Lease Type Absolute NNN
Lease Term 20
Lease Expiration 12/01/2044
Remaining Term 18.4
Rent Bumps Yes
Lease Options Five 5-Yr @ 10%
Year Built 2024
Buildings 1
Stories 1
Acreage 2.020
Tenant Credit Corporate Guarantee
Lease Commencement 12/01/2024
Ground Lease Yes
Target-Anchored | 2.02-Acre Lot | Top 27% Nationwide (Placer)
Marketing description
CLICK HERE FOR COMPLETE OFFERING MEMORANDUM: https://hanleyinvestmentgroup.com/listings/?id=a0EPg000009eDHV&track=hUHsuzHPhYmwktWSsxif__vto
Investment highlights
- New Construction Single-Tenant ALDI |Top 27% Performing Location Nationwide (Placer)
- 18+ Years remaining on the 20-year absolute NNN corporate ground lease
- Starting in Lease Year 10, rent increases 10% every five years throughout the remainder of the base term and during each of the five, 5-year renewal options
- ALDI operates over 2,600 stores and plans to open 180 new stores across 31 states in 2026
- Ranked the #1 Low Price Leader for Groceries – Ernst & Young (2025)
- True Ground Lease, Below-Market Rent and Major Tenant Improvements:
- All building costs were done at the tenant’s sole cost and expense demonstrating ALDI’s long-term commitment to the site
- Passive, Absolute NNN Ground Lease requiring zero landlord responsibilities
- Current rent of just $8.78 PSF, a fraction of market rent for new construction offering embedded rental upside
- Irreplaceable Long Island Corner Location at the Entrance to a Top-Performing Shopping Center
- Positioned on a highly visible 2.0-acre signalized corner parcel
- Located at the primary entrance to the Target-anchored Town Center at Central Islip
- Shopping center ranks in the Top 28% nationally among Community Shopping Centers (Placer.ai), generating 3.44 million annual visits
- Essential Grocery Retail with Proven Performance
- Grocery-anchored real estate remains among the most recession-resistant retail asset classes
- ALDI maintains one of the industry's most efficient operating models with standardized corporate operations
- Strong customer loyalty and value-driven pricing continue to drive consistent traffic regardless of economic cycles
- High-Barrier-to-Entry Long Island Real Estate
- Extremely limited future retail development due to land constraints and entitlement barriers
- Large 2.0-acre corner parcel with below-market rent enhances the long-term value of the underlying real estate
- High barriers to entry continue to support tenant demand and long-term land appreciation
- Exceptional Retail Corridor with Transformational Mixed-Use Growth Strengthening the Trade Area
- Directly across from The Belmont at Eastview, a $300 million luxury multifamily and medical redevelopment – Phase II Currently Under Construction
- Approved 130-unit affordable housing development immediately adjacent to the property
- Surrounded by major retail, entertainment, recreation, and key community anchors
- Dense, Affluent Long Island Demographics
- Over 235,000 residents within a 5-mile radius
- Average household incomes exceeding $135,000 within 1 mile
- Approximately one hour from Manhattan within the New York City MSA
Listing Contacts
Listed by ParaSell Inc, Hanley Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$178,000.00
$14,833.33/mo
Valuation Metrics
0
DSCR
4.15%
Cap Rate
4.15%
ROI
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