575 Portion Rd Lake Ronkonkoma, NY 11779

Property Details for 575 Portion Rd

Year built

2024

Property size

4,000 SF

Property type

Retail properties

Description

This exceptional investment opportunity presents a fee-simple condominium interest in a brand-new, single-story, 4,000-5,000 square foot Chick-fil-A restaurant located at 575 Portion Road, Lake Ronkonkoma, NY 11779. The property boasts a corporate-guaranteed, 20-year net lease (NNN) commencing October 15, 2024, with eight five-year renewal options. Rent escalates 10% every five years beginning in year eleven. The property sits on a +/-1.16-acre pad within a larger +/-12.1-acre property featuring approximately 94,911 square feet across three buildings. Strong co-tenancy includes Planet Fitness, Dollar Tree, and AutoZone, along with nearby ShopRite and Stop & Shop supermarkets. The site benefits from high visibility and traffic counts of 22,000 vehicles per day. The surrounding 3-mile radius boasts a population of 97,000 with an average household income exceeding $150,000. The property is zoned J2 and offers excellent access via four traffic light-controlled entrances, with the Long Island Expressway (Exit 60) just 1.5 miles away. The current Net Operating Income (NOI) is $225,000, resulting in a compelling 4.4% capitalization rate. This is a rare opportunity to acquire a management-free investment with a best-in-class tenant in a prime location within a high-traffic retail corridor. The ground lease has 20 years remaining. This is a truly exceptional investment opportunity.

Location Insight

City

Lake Ronkonkoma

County

Suffolk

State

New York

Longitude

-73.0928

Latitude

40.8307