1596 Union Turnpike

1596 Union Turnpike, New Hyde Park, NY 11040

Asking Price: $3,000,000

Cushman & Wakefield’s Long Island Investment Sales Team is pleased to exclusively offer the leasehold interest located at 1596 Union Turnpike, New Hyde Park, NY. The purchase is for the ground lease only. The subject asset is a four tenant retail strip center located on the hard corner of New Hyde Park Road and Union Turnpike, a high density commercial / residential neighborhood in Nassau County. The asset benefits from a 70,000 vehicles / day traffic counts along New Hyde Park Road and Union Turnpike. The building is comprised of 14,651 SF situated on 41,992 SF / .96 Acres of land that provides 46 on-site parking spaces.

There are four commercial leases within the building, with all but Karako Suits being Absolute NNN, enabling the ground lessee to transfer an abundance of ownership costs (such as real estate taxes, maintenance & repair, CAM) to the occupying tenants. Karako Suits recently signed a month-to-month Gross Lease with ownership, far below market rent, which temporarily fills a vacancy until a credit-worthy NNN tenant leases the unit at market rent. 

The property has a long-term ground lease with approximately 39.6 Years left on the term. The annual ground rent increases by 10%, every 5 years, and has no remaining options to renew. 

For more information, please contact the exclusive brokers directly.


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Attachments

Highlights

  • - Ground Lease in Prime Retail Strip Center
  • - 39.6 Years Remaining on Ground Lease
  • - Predominantly Leased with Absolute NNN Leases - Minimal Landlord Responsibilities
  • - Premium Retail Space Surrounded by National & Local Tenants / World Leading Healthcare Providers

Contacts

broker

Daniel Abbondandolo

Cushman & Wakefield

broker

JOEGY RAJU

SharpLaunch

broker

ROB CULLEN

SharpLaunch

broker

VICTOR LITTLE

SharpLaunch

broker

Alex Klausner

Cushman & Wakefield

Location

Getting Around

  • Walk Score ®

    9/100 Car-Dependent

  • Bike Score ®

    10/100 Somewhat Bikeable
Powered by Walk Score ®
  • City New Hyde Park, NY
  • Neighborhood North Hills Country Club
  • Zip Code 11040
  • Market Long Island

Points of Interest

  • Great Neck Taxi

    1.32 miles

  • Manhasset

    1.69 miles

  • Plandome

    2.52 miles

  • East Williston

    2.79 miles

  • Little Neck

    2.85 miles

  • New Hyde Park

    3.02 miles

  • Elmont

    4.24 miles

  • Country Life Press

    4.73 miles

  • Auburndale

    5.46 miles

  • Taxi Latino

    5.49 miles

  • BP

    1.37 miles

  • BP

    1.42 miles

  • Mobil

    1.43 miles

  • BP

    1.61 miles

  • Shell

    1.63 miles

  • Exxon

    1.66 miles

  • Mobil

    1.68 miles

  • Amoco

    1.75 miles

  • Mobil

    1.87 miles

  • BP

    1.91 miles

  • Village of Roslyn Edwards Street Lot

    2.40 miles

  • Village of Plandome Manor LIRR Parking Lot

    2.48 miles

  • Village of Plandome LIRR Parking Lot

    2.51 miles

  • Roslyn LIRR Parking Lot

    2.53 miles

  • Village of Roslyn Municipal Parking Field 1

    2.66 miles

  • Village of Roslyn Municipal Parking Field 2

    2.67 miles

  • Roslyn High School Faculty Parking Lot

    2.79 miles

  • Village of Roslyn Municipal Parking Field 3

    2.79 miles

  • Village of Roslyn Municipal Parking Field 4

    2.80 miles

  • Roslyn High School Student Parking Lot

    2.82 miles

  • Chipotle

    1.14 miles

  • Antonino's Italian Restaurant

    1.36 miles

  • IHOP

    1.36 miles

  • Chopt

    1.38 miles

  • TGI Friday's

    1.38 miles

  • Smashburger

    1.38 miles

  • Shake Shack

    1.41 miles

  • Munsey Park Bagel

    1.42 miles

  • La Coquille

    1.42 miles

  • The Pantry

    1.42 miles

  • ShopRite

    1.14 miles

  • Macy's

    1.25 miles

  • King Kullen

    1.27 miles

  • Marshalls

    1.34 miles

  • Macy's

    1.43 miles

  • Marshalls

    1.47 miles

  • Americana Manhasset

    1.64 miles

  • Maharaja Farmers Market

    1.76 miles

  • Whole Foods Market

    1.81 miles

  • Food emporium

    2.05 miles

Frequently Asked Questions

How much does 1596 Union Turnpike cost?

The sale price for 1596 Union Turnpike is available upon request. Contact the listing broker for more information.

What is the total square footage of 1596 Union Turnpike?

1596 Union Turnpike totals 14 square feet.

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