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Gulf

360 Sunrise Hwy, Rockville Centre, NY 11570

Listing Price: $2,700,000

Cap Rate
6.00%
Tenant Name
Gulf
Years Remaining On Lease
24.4
Guarantor
Personal Guarantee
Rentable SF
1,615
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.31

Investment Overview

Marcus & Millichap is pleased to present for sale a Net Leased Gulf located at 360 Sunrise Hwy, Rockville Centre, New York 11570 operated by Mukti 360 Petroleum Inc. The subject property consists of an 8 pump, 1,615 square foot gas station/convenience store and is situated on a .17- acre parcel of land. The property is strategically located along Sunrise Highway traveled by over 50,000 vehicles per day, which runs parallel to Merrick Road traveled by over 35,000 vehicles per day and the property is one parcel in from Morris Avenue traveled by almost 8,000 vehicles per day which connects Merrick Road and Sunrise Highway. This infill location benefits from great demographics including almost 206,000 full time residents with an average household income exceeding $153,500 in a three-mile radius. The subject property is located in the middle of a major retail thoroughfare and the immediate trade area is home to a number of National and Regional retailers including Chase, Key Food, Home Goods, La-Z-Boy, McDonald’s, CVS and many more. Gulf executed a 25-year Triple Net-Lease in 2020. There are currently 24 + years remaining in the base term with two five-year options thereafter. The lease is structured with 10% rent escalations every five years throughout the base term and options. The Property presents investors with an opportunity to own a management free, income producing asset, with a long term lease, in a high traffic retail section of a desirable area of Long Island.

Investment Highlights

  • NNN Gulf located at 360 Sunrise Hwy, Rockville Centre, NY 11570 operated by Mukti 360 Petroleum Inc.
  • Subject property consists of an 8 pump, 1,615 square foot gas station/convenience store and is situated on a .17-acre parcel of land
  • Located along Sunrise Highway (50,000+ VPD), parallel with Merrick Rd. (35,000+ VPD) and one parcel in from Morris Avenue (8,000 VPD)

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

  • Michael Kook

    Licensed Associate Real Estate Broker

    (212) 430-5169

    Email Michael

    License(s): NY: 10301216047, NY: 10491208242

    Manhattan

Listing Price: $2,700,000

Cap Rate
6.00%
Tenant Name
Gulf
Years Remaining On Lease
24.4
Guarantor
Personal Guarantee
Rentable SF
1,615
Lease Type
Triple Net (NNN)
Rent Per Square Feet
$100.31

Investment Highlights

  • NNN Gulf located at 360 Sunrise Hwy, Rockville Centre, NY 11570 operated by Mukti 360 Petroleum Inc.
  • Subject property consists of an 8 pump, 1,615 square foot gas station/convenience store and is situated on a .17-acre parcel of land
  • Located along Sunrise Highway (50,000+ VPD), parallel with Merrick Rd. (35,000+ VPD) and one parcel in from Morris Avenue (8,000 VPD)

Investment Overview

Marcus & Millichap is pleased to present for sale a Net Leased Gulf located at 360 Sunrise Hwy, Rockville Centre, New York 11570 operated by Mukti 360 Petroleum Inc. The subject property consists of an 8 pump, 1,615 square foot gas station/convenience store and is situated on a .17- acre parcel of land. The property is strategically located along Sunrise Highway traveled by over 50,000 vehicles per day, which runs parallel to Merrick Road traveled by over 35,000 vehicles per day and the property is one parcel in from Morris Avenue traveled by almost 8,000 vehicles per day which connects Merrick Road and Sunrise Highway. This infill location benefits from great demographics including almost 206,000 full time residents with an average household income exceeding $153,500 in a three-mile radius. The subject property is located in the middle of a major retail thoroughfare and the immediate trade area is home to a number of National and Regional retailers including Chase, Key Food, Home Goods, La-Z-Boy, McDonald’s, CVS and many more. Gulf executed a 25-year Triple Net-Lease in 2020. There are currently 24 + years remaining in the base term with two five-year options thereafter. The lease is structured with 10% rent escalations every five years throughout the base term and options. The Property presents investors with an opportunity to own a management free, income producing asset, with a long term lease, in a high traffic retail section of a desirable area of Long Island.

Exclusively Listed By

  • Steven J. Siegel

    Licensed Associate Real Estate Broker

    (212) 430-5166

    Email Steven

    License(s): NY: 30SI0857139, NJ: 0015107, CT: REB.0754170

    Manhattan

  • Michael Kook

    Licensed Associate Real Estate Broker

    (212) 430-5169

    Email Michael

    License(s): NY: 10301216047, NY: 10491208242

    Manhattan

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