Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Leased Gas Station Investment Opportunity Title is generated by Realmo AI

    741 Montauk Hwy, Shirley, NY

    View on Map
    Claim this Listing
    For Sale
    Contact for pricing

    Fully leased gas station with long-term tenant in Shirley, NY.

    Type:INDUSTRIAL
    Property size:
    1,607 SF
    Lot size:
    0.59 Acres
    Added:
    Aug 21, 2023
    Days on Market:
    1021
    Last Refresh:
    May 19 at 9:10 pm

    Property Features for 741 Montauk Hwy

    General Information

    Standard status
    Active
    Size
    1,607 SF
    Lot size
    0.59 Acres
    Property subtype
    INDUSTRIAL

    We can help!

    Listing Contact
    Jonathan Squires
    Jonathan Squires

    Listing agent Jonathan Squires

    Listing office Cushman & Wakefield | Midtown Manhattan

    Listing date Aug 21, 2023

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Cushman & Wakefield | Midtown Manhattan

    HighLights

    • Leased to BP Products North America on a NNN basis, providing a stable income stream.
    • Long‑term lease with 9 years remaining and potential for three (3) 5‑year extensions.
    • Rent increases 10% every 5 years, offering built‑in revenue growth.
    • Located on Montauk Highway in Shirley, Long Island, offering high visibility.
    • 25,700 square foot lot improved by a 1,607 square foot retail and auto repair building.
    • Close proximity to major retailers (Chipotle, Taco Bell, Kohl’s, CVS, etc.) and accessible via Sunrise Highway and William Floyd Parkway.

    Overview

    Located at 741 Montauk Highway in Shirley, Long Island, this property features a 1,607 square foot retail and auto repair building situated on a 25,700 square foot lot. The property is currently occupied by BP Products North America on a NNN lease basis, with 9 years remaining on the current lease. BP Products North America has three 5-year extension options, with rent increasing 10% every 5 years. The property is located within a 3-minute drive of the Atlantic Ocean and various stores, including Chipotle, Taco Bell, Pizza Hut, Kohl’s, CVS, Burger King, and McDonald’s. It is also accessible via Sunrise Highway and the William Floyd Parkway. This property presents an opportunity for investors to acquire a fully leased gas station in a neighborhood.
    Location Intelligence

    Current Use by Public Records

    bp Car Wash Auto Repair Auto Repair Shop

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Shirley
    County
    Suffolk
    State
    New York
    Longitude
    -72.8656
    Latitude
    40.8016

    Nearby Similar for Sale

    • $549,000
      1,400 SF

      Shirley Farmhouse on Wooded Acreage

      Charming farmhouse on 1.14 acres near Southaven Park.
      15 Beatrice Drive, Shirley, NY 11967
      View Details
    • $7,100,000
      10,000 SF

      Retail Building on Montauk Highway

      Mint 10,000+ Sqft retail building with national tenant.
      863 Montauk Hwy, Shirley, NY 11967
      View Details
    • $159,000
      2,300 SF

      Established Pizzeria Business For Sale

      Established pizzeria business for sale in high-traffic area.
      44 Surrey Circle D, Shirley, NY 11967
      View Details
    • $985,000
      1,780 SF

      Retail Property on William Floyd

      Retail property available for sale in Shirley, New York.
      440 William Floyd Pkwy, Shirley, NY
      View Details
    • $1,190,000
      6,000 SF

      Medical Office Building For Sale

      Medical office building for sale or lease, delivered vacant.
      20 Grand Ave, Shirley, NY
      View Details
    • $1,800,000
      6,488 SF

      Commercial Building For Sale

      6,488 Sq Ft commercial building suitable for various uses.
      910 Montauk Highway, Shirley, NY 11967
      View Details
    • $1,190,000
      6,000 SF

      Medical Office Building For Sale

      Medical office building in Shirley, delivered vacant, ample parking.
      20 Grand Ave, Shirley, NY 11967
      View Details
    • Contact for pricing
      2,800 SF

      Retail Strip Center For Sale

      2,800 SF retail strip center on William Floyd Pkwy.
      458 William Floyd Pkwy, Shirley, NY
      View Details
    • Contact for pricing
      24,715 SF

      Retail Plaza with National Tenants

      24,715 SF retail plaza with high NOI and traffic.
      37 Surrey Circle, Shirley, NY
      View Details
    • $65,000

      Established Barber Shop Business

      Barber shop business for sale in established location.
      1029 Montauk Highway, Shirley, NY 11967
      View Details

    FAQs

    What type of property is this?
    Gas station - Fully leased gas station with long-term tenant in Shirley, NY.
    Where is this gas station located?
    The property is located at 741 Montauk Hwy Shirley, NY.
    What are key features of this property?
    This property features: Leased to BP Products North America on a NNN basis, providing a stable income stream.; Long‑term lease with 9 years remaining and potential for three (3) 5‑year extensions.; Rent increases 10% every 5 years, offering built‑in revenue growth.
    (212) 841-7500 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jonathan Squires
    Jonathan Squires
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    741 Montauk Hwy, Shirley, NY
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!