19 Jericho Tpke Huntington Station, NY 11746-3627

Property Details for 19 Jericho Tpke

Lot size

1.10 lot acres

Zone code

C6

Property type

Investment properties

Property subtype

Retail residential properties

APN

0400-198.00-01.00-008.001

APU

400198000100008001

Description

This exceptional investment opportunity presents a fee-simple ownership of two Class A retail buildings totaling 5,000 to 13,248 square feet, situated on a 1.5-acre lot in Huntington Station, New York. The property boasts an impressive 415 feet of frontage along Jericho Turnpike, strategically positioned between two merging roads, providing unparalleled visibility and accessibility. Five curb cuts on three major roads, coupled with two traffic lights, ensure optimal traffic flow and exposure. Both buildings are 100% occupied under absolute NNN leases with Capital One Bank and 1800 Flowers, established tenants with a long history at this location (over 25 and 15 years respectively). The current leases have 5 years remaining, generating a substantial net operating income (NOI) of $606,450, resulting in a compelling 6.22% cap rate. The property features 69 parking spaces and is zoned C-6. This portfolio benefits from its proximity to The Shoppes at Walt Whitman, a major shopping mall, and enjoys high traffic counts (over 30,750 cars daily) and strong demographics, with nearly 174,627 people residing within a 5-mile radius, boasting median incomes exceeding $147,000 annually and approximately $2.8 billion in annual consumer spending. The asking price is $9,750,000 and is suitable for a 1031 exchange. This is a truly exceptional opportunity to acquire a trophy retail asset in a high-demand location with minimal landlord responsibilities. The buildings were constructed in 1999 and are single-story structures.