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    1715 Sunrise Hwy Bay Shore, NY 11706

    Sponsored
    For Sale
    $6,925,000

    High-Cap Rate Retail Investment in Bay Shore

    Property size:
    7,659 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a 7,659 square foot, single-tenant retail property located at 1715 Sunrise Highway in Bay Shore, New York. The property is currently leased to Olive Garden, a highly creditworthy tenant (S&P Global Rating of BBB and nearly $B in annual sales), under a lease expiring October 31, 2029, with three 5-year renewal options. Boasting a strong 5.50% cap rate and a Net Operating Income (NOI) of $383,105, this stabilized investment offers significant returns. Situated in a prime location directly off Sunrise Highway (Route 27), a major east-west artery on Long Island with an approximate 85,000 AADT, the property benefits from exceptional visibility and high traffic volume. The property is an outparcel of the South Shore Mall, a prominent shopping center anchored by major national retailers including Macy's, JCPenney, Burlington, Dick's Sporting Goods, and others, ensuring a robust and established customer base. The building, encompassing one unit across 7,659 square feet on a single story, is zoned BUS3. This presents a rare opportunity to acquire a high-performing, credit-tenant retail property in a thriving Long Island market. The property's strong financials, prime location, and long-term lease make it an attractive investment for discerning buyers seeking stable income and significant appreciation potential. The asking price is $6,925,000.

    Property Features for 1715 Sunrise Hwy

    General Information

    Property type
    Lifestyle centers
    Square Feet
    7,659 SF

    Building Details

    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • $6,925,000 asking price for a stabilized retail investment.
    • 7,659 SF single‑tenant Olive Garden building with a 5.50% cap rate and $383,105 NOI.
    • Lease expires 10/1/2029.
    • Prime retail location on Sunrise Highway (Route 27) in Bay Shore, NY, with ~85,000 AADT.
    • Investment‑grade tenant (Olive Garden, S&P Global Rating of BBB).
    Property Profile Location Intelligence

    Current Use by Public Records

    Olive Garden Italian ... Italian Restaurant

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon

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

    Location Insight

    • Map
    • Local Demand
    City
    Bay Shore
    County
    Suffolk
    State
    New York
    Longitude
    -73.244753295764
    Latitude
    40.737444111812

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    FAQs

    What type of property is this?
    Lifestyle center - High-Cap Rate Retail Investment in Bay Shore
    Where is this lifestyle center located?
    The property is located at 1715 Sunrise Hwy Bay Shore, NY.
    What is the asking price?
    The asking price for this property is $6,925,000.
    What are key features of this property?
    This property features: $6,925,000 asking price for a stabilized retail investment.; 7,659 SF single-tenant Olive Garden building with a 5.50% cap rate and $383,105 NOI.; Lease expires 10/1/2029.
    Request Owner's contact information
    1715 Sunrise Hwy Bay Shore, NY 11706
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    Bay Shore, NY 11706
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    Realmo Value Estimation

    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.

    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.

    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
    1715 Sunrise Hwy Bay Shore, NY 11706
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