1715 Sunrise Hwy Bay Shore, NY 11706

Property Details for 1715 Sunrise Hwy

Property size

7,659 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

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.