NNN Walgreens Retail
For Sale
$6,500,000
863 Montauk Highway, Shirley, NY 11967
A Walgreens occupies the property under a flat-rent NNN lease extending through 2036.
Property Size10,191 SF
Price / SF$637.82
Days on Market284
Property Features for 863 Montauk Highway
General Information
Standard status
Active
Size
10,191 SF
Property subtype
Commercial
Zoning
J2
Net Operating Income
$505,000
Financials
Cap Rate
7.77%
Gross Income
$505,000
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$40,307
Building Details
Building Size
10,191 SF
Tenancy
Single
Listing Agency:
All Island Estates Realty Corp
(516) 783-5600
Listed By:
Richard Matt Shane · License #1020151
(516) 279-8828
Source:
Croninreale
Added: Jan 14
Changed: Oct 24
Last Checked: Oct 23 at 3:29PM
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 All Island Estates Realty Corp
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 10,191-square-foot retail property is occupied by Walgreens. The lease is structured as NNN with flat rent and runs through 2036. The site is zoned J2.
Key Highlights
- Walgreens is the tenant
- 10,191 square feet
- Flat‑rent NNN lease expires in 2036
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$199,244
Cap Rate
3.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,984,880
$4.0M
Cap Rate 7%
$2,846,343
$2.8M
Cap Rate 9%
$2,213,822
$2.2M
Market Conditions
NOI Build-Up for 10,191 SF
Gross rent
$305.7K $30.00/SF
− Vacancy
−$21.1K −$2.07/SF
EGI
$284.6K $27.93/SF
− OpEx
−$85.4K −$8.38/SF
NOI
$199.2K $19.55/SF
Area
Suffolk County, NY
Vacancy
6.90%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,984,880
Cap Rate 7%
$2,846,343
Cap Rate 9%
$2,213,822
Alternative Uses
Best Use
Retail
$2.85M
$2.49M – $3.32M
NOI $199,244 @ 7.0% cap · market cap 3.07%
Second Best
Specialty Retail
$2.65M
$2.32M – $3.09M
NOI $185,297 @ 7.0% cap · market cap 2.85%
Theoretical Best
Office A
$3.10M
$2.72M – $3.62M
NOI $217,326 @ 7.0% cap · market cap 3.34%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
720
Businesses Nearby
87k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 44%
Dining 38%
Groceries 13%
Home Improvements & Furnishings 5%
Dollar Tree
Shops & Services
20,411 visits/mo
0.2 miles
Popeyes Louisiana Kitchen
Dining
16,329 visits/mo
0.2 miles
SONIC Drive In
Dining
14,236 visits/mo
0.3 miles
Lidl
Groceries
11,568 visits/mo
0.3 miles
Capital One Bank
Shops & Services
10,269 visits/mo
0.3 miles
Demographics for 11967, NY
26,213
Population
8,922
Households
2.9
Avg Household Size
39
Median Age
18%
College-Educated
89%
High-School Grad
13.2 sq mi
ZIP Area
1,986
Density / Sq Mi
$106,810
Median Household Income
$52,515
Median Earnings
$2,157
Median Rent
$386,300
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
NNN property - A Walgreens occupies the property under a flat-rent NNN lease extending through 2036.
Where is this nnn property located?
The property is located at 863 Montauk Highway Shirley, NY.
What is the asking price?
The asking price for this property is $6,500,000.
What are key features of this property?
This property features: Walgreens is the tenant; 10,191 square feet; Flat‑rent NNN lease expires in 2036
