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Bank

TD Bank (Absolute NNN) - Prime Long Island Location

500 Rockaway Turnpike, Lawrence, NY 11559

Listing Price: $8,228,000

Cap Rate
5.50%
Tenant Name
TD Bank
Years Remaining On Lease
4.8
Gross SF
4,100
Guarantor
Corporate Guarantee
Rentable SF
4,100
Price/Gross SF
$2,006.83
Lease Type
Absolute Net
Rent Per Square Feet
$110.38

Investment Overview

The subject offering is a single-tenant net-leased TD Bank located on Rockaway Turnpike in Lawrence (Long Island), NY. This is a fee simple deal. TD Bank has five years remaining on an absolute NNN lease (zero landlord responsibilities) that runs through April 2029. TD Bank has three (5) five-year options to renew, with a 10% increase in each option period. The site has $263M in deposits.

This is a prime retail location. The site is surrounded by national retailers in every direction, and it benefits from outstanding demographics and incredible traffic counts. The traffic count directly in front of the subject property on Rockaway Turnpike is just under 82,000 vehicles per day. The traffic counts on Nassau Expressway, which starts right at the subject property, are just over 57,000 vehicles per day. The site is located right over the border to Queens (NYC) in Lawrence, which is part of the Five Towns section of Long Island.

The site sits on a 12,022 SF lot. TD Bank has a double drive-thru, and multiple points for ingress and egress along both Rockaway Turnpike and Plaza Road. The site sits directly across the street from one of the busiest Costco locations in the country. The other neighboring retailers include McDonald’s, LA Fitness, 7-Eleven, Marshall’s, Chipotle, Target, Panera Bread, and Burlington Coat Factory. This is the rare opportunity to acquire a Five Towns zero management asset with a drive-thru on one of the busiest and most heavily traveled retail corridors in all of Long Island.

Investment Highlights

  • 4,100 SF Absolute NNN Lease (Fee Simple) Corner Property Leased to TD Bank Through 2029
  • Prime Rockaway Turnpike Location in the Five Towns (Long Island) - Incredible Demographics and Traffic Counts of 82,000 Vehicles Per Day in Front of the Subject Property.
  • Zero Management Deal With a Drive-Thru - Surrouned by National Tenants in Every Direction. Incredibly Rare Five Towns Location

Exclusively Listed By

Bank

TD Bank (Absolute NNN) - Prime Long Island Location

Listing Price: $8,228,000

Cap Rate
5.50%
Tenant Name
TD Bank
Years Remaining On Lease
4.8
Gross SF
4,100
Guarantor
Corporate Guarantee
Rentable SF
4,100
Price/Gross SF
$2,006.83
Lease Type
Absolute Net
Rent Per Square Feet
$110.38

Investment Highlights

  • 4,100 SF Absolute NNN Lease (Fee Simple) Corner Property Leased to TD Bank Through 2029
  • Prime Rockaway Turnpike Location in the Five Towns (Long Island) - Incredible Demographics and Traffic Counts of 82,000 Vehicles Per Day in Front of the Subject Property.
  • Zero Management Deal With a Drive-Thru - Surrouned by National Tenants in Every Direction. Incredibly Rare Five Towns Location

Investment Overview

The subject offering is a single-tenant net-leased TD Bank located on Rockaway Turnpike in Lawrence (Long Island), NY. This is a fee simple deal. TD Bank has five years remaining on an absolute NNN lease (zero landlord responsibilities) that runs through April 2029. TD Bank has three (5) five-year options to renew, with a 10% increase in each option period. The site has $263M in deposits. This is a prime retail location. The site is surrounded by national retailers in every direction, and it benefits from outstanding demographics and incredible traffic counts. The traffic count directly in front of the subject property on Rockaway Turnpike is just under 82,000 vehicles per day. The traffic counts on Nassau Expressway, which starts right at the subject property, are just over 57,000 vehicles per day. The site is located right over the border to Queens (NYC) in Lawrence, which is part of the Five Towns section of Long Island. The site sits on a 12,022 SF lot. TD Bank has a double drive-thru, and multiple points for ingress and egress along both Rockaway Turnpike and Plaza Road. The site sits directly across the street from one of the busiest Costco locations in the country. The other neighboring retailers include McDonald’s, LA Fitness, 7-Eleven, Marshall’s, Chipotle, Target, Panera Bread, and Burlington Coat Factory. This is the rare opportunity to acquire a Five Towns zero management asset with a drive-thru on one of the busiest and most heavily traveled retail corridors in all of Long Island.

Exclusively Listed By

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