Grocery Store

Wild by Nature & Walgreens

2709 Long Beach Rd, Oceanside, NY 11572

Listing Price: $19,550,000

Cap Rate
5.50%
Tenant Name
Wild by Nature & Walgreens
Years Remaining On Lease
6.20
Gross SF
32,154
Guarantor
Corporate Guarantee
Rentable SF
32,154
Price/Gross SF
$608.01
Lease Type
Double Net
Rent Per Square Feet
$33.44

Investment Overview

Marcus & Millichap is pleased to present 2709 Long Beach Road, an excellently situated 2.35-acre parcel featuring two freestanding net leased assets. The net leased Walgreens and net leased Wild by Nature are uniquely positioned on a heavily trafficked retail node in a densely populated, affluent submarket on Long Island. The 19,127 square foot Wild by Nature has been operating at this location since 2007 and is in the thirteenth year of an initial 20-year lease. Wild by Nature has five, five-year tenant renewal options and one, four-year option. Wild by Nature has 10% rental increases built in every five years. The 13,027 square foot Walgreens has been operating at this location since 2007 and is in the thirteenth year of its forty-five year lease. Walgreens has 10% rental increases built in every ten years. After the first twenty (20) years of the lease, Walgreens has the option to terminate every five (5) years. Long Beach Road is a well-traveled thoroughfare that sees 34,337 vehicles per day and is home to myriad synergistic national retailers like TD Bank, BP Gas, Starbucks, CVS Pharmacy, 7 Eleven, Rite Aid, Capital One, and much more. Located in Southwestern Nassau County, the neighboring area is bolstered by solid real estate fundamentals and strong demographics with an average household income over $148,000 and over 60,000 households within a three-mile radius. This uniquely positioned, phenomenally located essential retail property offers stable, passive income in a sought after submarket. Additional information is available upon request.

Investment Highlights

  • Two NN Essential Retailers
  • Each Tenant has 10% Rental Increases Built into Initial Term & Option Periods
  • Conveniently Located on Long Beach Road 34,337 VPD at Dedicated 4-Way Intersection
  • Investment Grade Tenant (Walgreens) with BBB (S&P) Rating
  • Average HH Income is $148,000 and Over 60,000 HH within 3-mile Radius

Exclusively Listed By

Financing By

Grocery Store

Wild by Nature & Walgreens

Listing Price: $19,550,000

Cap Rate
5.50%
Tenant Name
Wild by Nature & Walgreens
Years Remaining On Lease
6.20
Gross SF
32,154
Guarantor
Corporate Guarantee
Rentable SF
32,154
Price/Gross SF
$608.01
Lease Type
Double Net
Rent Per Square Feet
$33.44

Investment Highlights

  • Two NN Essential Retailers
  • Each Tenant has 10% Rental Increases Built into Initial Term & Option Periods
  • Conveniently Located on Long Beach Road 34,337 VPD at Dedicated 4-Way Intersection
  • Investment Grade Tenant (Walgreens) with BBB (S&P) Rating
  • Average HH Income is $148,000 and Over 60,000 HH within 3-mile Radius

Investment Overview

Marcus & Millichap is pleased to present 2709 Long Beach Road, an excellently situated 2.35-acre parcel featuring two freestanding net leased assets. The net leased Walgreens and net leased Wild by Nature are uniquely positioned on a heavily trafficked retail node in a densely populated, affluent submarket on Long Island. The 19,127 square foot Wild by Nature has been operating at this location since 2007 and is in the thirteenth year of an initial 20-year lease. Wild by Nature has five, five-year tenant renewal options and one, four-year option. Wild by Nature has 10% rental increases built in every five years. The 13,027 square foot Walgreens has been operating at this location since 2007 and is in the thirteenth year of its forty-five year lease. Walgreens has 10% rental increases built in every ten years. After the first twenty (20) years of the lease, Walgreens has the option to terminate every five (5) years. Long Beach Road is a well-traveled thoroughfare that sees 34,337 vehicles per day and is home to myriad synergistic national retailers like TD Bank, BP Gas, Starbucks, CVS Pharmacy, 7 Eleven, Rite Aid, Capital One, and much more. Located in Southwestern Nassau County, the neighboring area is bolstered by solid real estate fundamentals and strong demographics with an average household income over $148,000 and over 60,000 households within a three-mile radius. This uniquely positioned, phenomenally located essential retail property offers stable, passive income in a sought after submarket. Additional information is available upon request.

Exclusively Listed By

Financing By

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