741 Montauk Hwy Shirley, NY 11967
Property profile & analytics
Location Intelligence
Current Use by Public Records
- bp / Car Wash
- Auto Repair / Auto Repair Shop
Property Details for 741 Montauk Hwy
- Year built
- 2018
- Property size
- 2,268 SF
- Property type
- Retail properties & Spaces
- Property subtype
- Grocery and convenience stores
Description
This exceptional investment opportunity presents a fee-simple ownership of a BP gas station located at 741 Montauk Hwy, Shirley, NY 11967. The property boasts a 2,268 square foot building on a 18,355 square foot lot, featuring 8 gas pumps and ample 14-space parking. Built in 2018, this single-story structure operates under a 10-year absolute NNN lease (commencing August 28, 2021, expiring August 29, 2031), providing 6.8 years of remaining lease term with three 5-year renewal options. The corporate-guaranteed lease includes a 10% rent increase every five years, ensuring consistent income growth. The property generates a substantial net operating income (NOI) of $132,000, resulting in a compelling 4.89% cap rate. Situated in a high-traffic area with convenient access to major roadways like Sunrise Highway and William Floyd Parkway, and proximate to numerous national retailers including Chipotle, Taco Bell, Pizza Hut, Kohl's, CVS, Burger King, and McDonald's, this property offers exceptional stability and growth potential. The property is zoned J Business 5. The asking price is $2,475,000, translating to $1,190.48 per square foot. This is a rare opportunity to acquire a well-established, high-performing gas station with a strong tenant and significant upside.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Shirley
- County
- Suffolk
- State
- New York
- Longitude
- -72.8701
- Latitude
- 40.8009
