109 Hillside Ave New Hyde Park, NY 11040
- Retail space
- 11,278 SF
- 0.54 lot acres
Current Use by Public Records
- Retail space
Property Details for 109 Hillside Ave
- Year built
- 2005
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.54 lot acres
- Property size
- 11,278 SF
- Property type
- Retail space
- APN
- 08-242-00-0007
- APU
- 8242000007
Description
This exceptional investment opportunity presents a 11,278-square-foot Walgreens located at 109 Hillside Ave, New Hyde Park, NY 11040, in Nassau County. The property boasts a 25-year absolute NNN lease with a corporate guarantee from Walgreens, providing significant financial stability. With 5.6 years remaining on the current lease term and nine 5-year renewal options, this investment offers long-term security and predictable cash flow. The property features 34 parking spaces and sits on a 0.54-acre lot, zoned for commercial stores and retail outlets. Built in 2005, the building enjoys 100% occupancy, generating a net operating income (NOI) of $270,000 and a 7.50% cap rate. The asking price is $3,600,000, translating to $319.21 per square foot. The property benefits from its strategic location, just 1.5 miles from Cross Island Parkway (186,500 vehicles per day), and is surrounded by other major retailers, including Stop & Shop, Five Below, PetSmart, and T.J. Maxx. The strong demographics of the area, with 745,000 residents and 294,000 employees within a 5-mile radius, further enhance the investment's appeal. This is a leasehold interest in the building. The APN is 08-242-00-0007.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- New Hyde Park
- County
- Nassau
- State
- New York
- Longitude
- -73.7
- Latitude
- 40.7397
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
