Current Use by Public Records
- Retail properties & Spaces
Property Details for 1829 Ny-112
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a 2.5-acre retail property in Medford, NY, situated on a hard corner at a traffic light. The property features a net lease structure with a current cap rate of 6.00% and a net operating income (NOI) of $180,000. The property is currently 100% occupied by two tenants: Avis Car Rental and an additional storefront tenant. Both tenants are under multi-tenant leases with built-in annual rent increases, minimizing landlord management responsibilities. The property offers significant upside potential for future redevelopment, with both tenants possessing landlord termination clauses to facilitate such plans. This value-add investment is located at the northeast corner of Route 112 and Southaven Avenue, benefiting from high visibility and traffic flow. The property's address is 1829 and 1831 NY-112, Medford, NY 11763, in Suffolk County. The asking price for this prime retail ground lease is $3,000,000. This presents a rare opportunity to acquire a stable, income-producing asset with substantial long-term growth potential. The minimal landlord management requirements make this an attractive investment for passive income seekers.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Medford
- County
- Suffolk
- State
- New York
- Longitude
- -73.0045
- Latitude
- 40.8017
