161 Hills RdHuntington Station, NY 11746

Property Details for 161 Hills Rd

Lot size

0.33 AC

Property size (Sq ft)

8,930 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a stabilized, single-tenant net lease property occupied by Advance Auto Parts. Located at 161 W Hills Rd, Huntington Station, NY 11746, this 8,930 square foot auto shop sits on a 0.33-acre lot in a prime Suffolk County location, approximately 30 miles from Midtown Manhattan. The property boasts a strong financial profile, including a 4.60% cap rate and a substantial net operating income (NOI) of $86,197. The current lease, commenced on December 31, 2022, has a remaining term of 8.1 years, with two 5-year options featuring a 13% rent bump at each renewal. The tenant, Advance Auto Parts, is backed by a corporate guarantee, providing significant security for investors. The property benefits from a high average household income exceeding $230,000 within a 1-mile radius and a population exceeding 95,000 within a 5-mile radius. This location is characterized by high density and a significant barrier to entry, situated along a major commercial thoroughfare. The recent lease extension underscores Advance Auto Parts' commitment to this location and the surrounding submarket. The asking price is $1,874,753, translating to a price per square foot of $209.94. This offering is ideal for 1031 exchange investors seeking a secure, high-performing asset in a desirable Long Island market. The property is 100% occupied.

Location Insight

City

Huntington Station

County

Suffolk

State

New York

Latitude

40.8332

Longitude

-73.4209

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