2220 Nesconset Hwy Stonybrook, NY 11790

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.