741 Montauk Hwy Shirley, NY 11967

Property Details for 741 Montauk Hwy

Year built

2018

Property size

2,268 SF

Property type

Retail properties

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.