2220 Nesconset Hwy, Stonybrook, NY 11790
- Turn key restaurants
- 1.67 lot acres
Current Use by Public Records
- Turn key restaurants
Property Details for 2220 Nesconset Hwy
- Lot size
- 1.67 lot acres
- Property type
- Turn key restaurants
- APN
- 0200-439.00-03.00-001.000
- APU
- 200439000300001000
Description
This exceptional investment opportunity presents a freestanding Red Lobster restaurant located at 2220 Nesconset Highway, Stony Brook, New York, 11790. The property boasts 6,883 square feet of building space situated on a 1.7-acre lot. Built in 1976, this single-tenant property operates under a triple-net (NNN) lease with a corporate guarantee from Red Lobster, a nationally recognized brand with over 700 locations. The lease commenced on December 17, 2015, and has a remaining term of approximately 14.7 years, expiring July 31, 2039. The current annual net operating income (NOI) is $343,768, representing a 6.25% cap rate on the asking price of $5,500,288, or $799.11 per square foot. The lease includes four, five-year tenant renewal options and features attractive 2% annual rental increases throughout the base term and option periods. This investment offers a strong, long-term, passive income stream secured by a financially stable, national tenant. The property's location in Stony Brook, Suffolk County, provides excellent visibility and accessibility. This is a rare opportunity to acquire a well-established, high-performing restaurant property with significant remaining lease term and built-in rent growth.
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Location Insight
- Map
- Local Demand
- City
- Stony Brook
- County
- Suffolk
- State
- New York
- Longitude
- -73.1244
- Latitude
- 40.8737
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
