5590 Merrick Rd, Massapequa, NY 11758-6217

This exceptional investment opportunity presents two adjacent, net-leased retail properties totaling 5,727 square feet on Merrick Road in Massapequa, NY. The property boasts a 100% occupancy rate with two tenants: Carvel and Brasserie by Chef Aless, both of which have recently undergone significant renovations. Carvel invested $400,000 four years ago, while Brasserie by Chef Aless recently completed a $900,000 renovation. The property sits on a 0.55-acre lot and benefits from high visibility and accessibility, situated in a dense retail corridor with over 22,800 vehicles passing daily. The current leases are NNN, with no landlord responsibilities, and include annual rent increases of 3%. The remaining lease term is 14 years, providing long-term stability and predictable income. The asking price is $2,954,450, representing a 6.00% cap rate and a NOI of $177,267. Brasserie by Chef Aless receives a $1,000 monthly rent credit until July 31, 2024. Tenants are responsible for their own roof and structure. This property offers a compelling combination of strong tenants, a prime location, and a secure investment structure. The property is located at 5590 Merrick Road, Massapequa, NY 11758, in Nassau County.