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Views: 48 DOM: 138 Updated: 04.28.24 Posted: 12.31.23 Status: Active

Summary

Price $5,635,000
Built/Renov 1991
Tenant Magic Car Wash & Fast Lube
Cap Rate 7.00%
Lease Type Abs NNN
Guarantor Corporate
Size/SF 5,800
Lease Start 06-01-2022
#Units 14
Price/SF $971.55
Expiration 02-28-2042
Tenant Type Automotive
NOI $394,490
R. Term 17.9
Ownership Fee Simple
Rent/SF $68.02
Increases 3.0%/1/yrs
Pop 5Mi 121,838
Lot/AC 0.79
Options 2/10yrs
AHHI 5Mi $144,825

Lease Highlights

  • Magic Car Wash & Fast Lube has 18+ years remaining on the current lease term with 2 (5-year) options to extend
  • Lease features annual rental increases of 2% or uncapped CPI, whichever is greater
  • Absolute NNN | Zero landlord responsibilities
  • Corporate guaranteed lease

Location Description

Magic Car Wash is strategically located at the hard corner intersection of Panther Path and Miller Place/New York SR-25A, a highly trafficked commercial thoroughfare that sees 39,280 vehicles passing by daily. The property holds a key position across from the top performing Stop & Shop location (Placer. Ai). Moreover, the New York SR-25A serves as the main commercial corridor, with nearby...

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Maps

  • 1 Mile
  • 3 Miles
  • 5 Miles

Tenant

About Tenant

Magic Express Wash & Lube (dba Magic Car Wash & Fast Lube) is an American full-service and express car wash chain with locations in New York and Texas. For over a decade, they have offered...


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Demographics

  1 Miles 3 Miles 5 Miles
2028 Total Population : 7,155 46,415 118,181
2023 Total Population : 7,294 46,846 119,277
2023 Employed Civilian Pop : 3,312 22,558 58,465
2023 Total Businesses : 385 1,337 3,767
2023 Average Household Income : $ 171,619 $ 172,410 $ 151,436
2023 Total Consumer Spending : $ 369 M $ 2435 M $ 5682 M
2023 Median Age : 41 42 43
2023 Total Households : 2,576 16,860 44,563
2023 Pop Age 25+: Bachelor's Degree : 1,221 8,183 19,812
2023 Average Home Value : $ 547,634 $ 565,425 $ 532,410
*ESRI data is presented for informational purposes only

Traffic

Collection Street Cross Street Year Traffic Vol Distance
Route 25A Panther Ave 2021 39,855 0.15 mi
Miller Place Road Jersey Ave 2021 11,186 0.19 mi
State Rte 25A Miller Pl Rd 2014 28,482 0.38 mi
Washington Ave 2021 497 0.47 mi
State Rte 25A Oakland Ave 2011 25,522 0.50 mi
Field Ln 2021 170 0.55 mi
Miller Place-Yaphank Road Spruce Ln 2018 3,741 0.57 mi
Raider Run 2021 155 0.60 mi
Echo Avenue Queens Rd 2021 9,113 0.67 mi
Tyler Ave 2021 1 0.78 mi

Listing Broker

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