Skip to main content

Auto Service - Gas-Conv

Applegreen C-Store & Gas Station - Bonus Depreciation

540 Islip Ave, Islip, NY 11751

Listing Price: $2,738,095

Cap Rate
5.25%
Tenant Name
Petrogas Group US, Inc.
Gross SF
1,700
Guarantor
Corporate Guarantee
Rentable SF
1,700
Price/Gross SF
$1,610.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$84.56

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Applegreen located at 540 Islip Avenue in Islip, New York. The site consists of roughly 1,700 rentable square feet of building space on an estimated 0.43-acre parcel of land. The investment opportunity is subject to a 20-year, triple net lease, which commenced on April 1st, 2015. The lease has two, five-year tenant renewal options and rental increases of fifteen percent every five years throughout the initial term and each option.

Investment Highlights

  • 20-Year Absolute Triple Net Lease | 14.2 Years Remaining in Initial Term
  • Attractive Rental Increases| 15.0% Every Five Years
  • Qualifies for 100% Bonus Depreciation in Year One of Ownership

Exclusively Listed By

Auto Service - Gas-Conv

Applegreen C-Store & Gas Station - Bonus Depreciation

Listing Price: $2,738,095

Cap Rate
5.25%
Tenant Name
Petrogas Group US, Inc.
Gross SF
1,700
Guarantor
Corporate Guarantee
Rentable SF
1,700
Price/Gross SF
$1,610.64
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$84.56

Investment Highlights

  • 20-Year Absolute Triple Net Lease | 14.2 Years Remaining in Initial Term
  • Attractive Rental Increases| 15.0% Every Five Years
  • Qualifies for 100% Bonus Depreciation in Year One of Ownership

Investment Overview

Marcus & Millichap is pleased to present the exclusive listing for Applegreen located at 540 Islip Avenue in Islip, New York. The site consists of roughly 1,700 rentable square feet of building space on an estimated 0.43-acre parcel of land. The investment opportunity is subject to a 20-year, triple net lease, which commenced on April 1st, 2015. The lease has two, five-year tenant renewal options and rental increases of fifteen percent every five years throughout the initial term and each option.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower