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Costco of Oceanside, NY
3705 Hampton Road, Oceanside, NY 11572
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Investment Highlights
- Asking Price: $25,800,000
- NOI: $1,200,000
- Cap Rate: 4.65%
- Lease Type: NNN
- Lease Term: 25 Years
- Rent Commencement: 12/01/2016
- Lease Expiration: 12/01/2041
- Remaining Term: 23.9 Years
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Ground lease opportunity with Costco Wholesale, a 12.97 acre property with 18 premium discounted gas pumps and a +/- 150,000-square-foot retail building located in Oceanside, New York. Costco Oceanside has excellent nearby demographics with a dense, wealthy population base. Within a 5-mile radius of the site there are approximately 341,258 residents living in 120,617 houses. The surrounding area has a high average household income of $125,389 within a 5-mile radius. This Costco will draw customers from Oceanside, with a population of 32,109, as well as Freeport, a town with 43,713 residents to the east, and 53,891 residents from Hempstead to the north. The site is also within a few miles of East Atlantic Beach, Long Beach, and Jones Beach, a 6.5-mile stretch known as one of the most popular and heavily visited beaches on the East Coast, with an estimated six million visitors per year. The surrounding area has become a retail destination for nearby residents with many major national tenants including Bed, Bath & Beyond, Kohl’s, Staples, Trader Joe’s, Stop & Shop, Nike Factory Store, Victoria’s Secret, GAP, Express and Marshall's, all within one mile of the site.
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Landmark Real Estate Co., LLC
392 Main Street
Second Floor
Wyckoff, NJ 07481
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Laurence Liebowitz
Principal
(201)-560-1800
X301
LL@LandmarkRECO.com
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Kyle Star
Associate
(201)-560-1800
X304
Kyle@LandmarkRECO.com
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