820 Sunrise Hwy Baldwin, NY 11510-3326

Property Details for 820 Sunrise Hwy

Year built

1955

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.24 lot acres

Property size

1,232 SF

Property type

Grocery and convenience stores

APN

54-099-00-0016

APU

54099000016

Description

This exceptional investment opportunity presents a 1,100 square foot gas station and convenience store located at 820 Sunrise Highway in Baldwin, New York. The property sits on a 0.24-acre lot and features six gas pumps. Currently operating under a triple-net (NNN) lease with Express Gas & Mart, the lease extends until October 31, 2037, offering a substantial remaining term of 13 years. The annual net operating income (NOI) is $119,768, resulting in a compelling 6.84% capitalization rate. The asking price is $1,750,000, translating to $1,590.91 per square foot. The property underwent renovations in 2013 and boasts 100% occupancy. Situated on a high-traffic corner at the intersection of Sunrise Highway and Millburn Avenue, with a traffic count of 54,352 vehicles daily, this location provides excellent visibility and accessibility. The lease includes 3% annual rental increases, ensuring consistent growth in income. This is a turnkey investment with minimal landlord responsibilities, making it an attractive opportunity for passive income generation. The tenant has a history of reliable payments since November 1, 2012.