111 Depot Rd Huntington Station, NY 11746-1723

Property Details for 111 Depot Rd

Lot size

1.20 lot acres

Property type

Retail space

APN

0400-146.00-02.00-047.001

APU

400146000200047001

Description

This exceptional investment opportunity presents a single-tenant, 11,865 square foot CVS Pharmacy located at 111 Depot Rd, Huntington Station, NY 11746. The property sits on a 1.2-acre lot with 50 parking spaces and features a convenient drive-thru. Currently operating under a Net Lease (NN+) agreement with a credit-rated tenant, the lease boasts a remaining term of 11.2 years, expiring January 31, 2036, with two 5-year renewal options. The property boasts a strong 6.00% cap rate and a Net Operating Income (NOI) of $290,000. Built in 2001, this corner building enjoys a high-traffic location at a five-way signalized intersection of Depot Rd, Pulaski Rd, and Fairground Ave, near the Huntington Train Station and surrounded by other major retailers including 7-Eleven, Burger King, Home Depot, Walgreens, Shop-Rite, Marshalls, and Taco Bell. The seller recently completed a full parking lot replacement. The landlord retains some roof and structural responsibilities, with the ability to pass through parking lot maintenance and repair costs to the tenant. This prime Western Suffolk County location, approximately 30 miles east of Manhattan, offers exceptional visibility and access, situated just off Route 110 in a high-density area with a high barrier to entry. The average household income within a 5-mile radius is nearly $200,000. This is a 1031 exchange eligible property, offering a compelling investment opportunity with significant long-term potential. The asking price is $4,833,333.