5050 Sunrise Hwy, Massapequa Park, NY

Nassau County, Massapequa Park, New York 11762

$9,888,000   The Sunrise Shopping Center Portfolio

Listing ID Number

24952

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 5050 Sunrise Highway, Park Plaza, a four-unit shopping center on Sunrise Highway in Massapequa Park, Long Island. The shopping center sits on approximately 31,200 square feet of land with ~260 feet of frontage on Sunrise Highway.

Park Plaza contains an approximately 9,750 square foot building of which 8,357 square feet is currently occupied. One unit is currently vacant, at about 1,393 square feet. The building is made of the highest quality construction, recently built in 2006. It has a fully-sprinklered fire alarm, includes HVAC units, Nicolock pavers, delivery gate, and separate utility meters. Parking is available on-site for up to 44 cars.

Currently tenancy consists of Busy Bee Jewelry, Liberty Travel, and PM Pediatrics. All tenants contribute to common area maintenance (CAM) and insurance. Busy Bee Jewelry occupies 2,350 square feet and is operating under a 15-year lease through 2031. Liberty Travel occupies 1,200 square feet and is operating under a seven-year lease through 2023 with (1) five-year option to renew. PM Pediatrics occupies 4,807 square feet and is operating under a ten-year lease through 2027 with (3) five-year options to renew.

Park Plaza is placed on a highly-frequented retail corridor of Sunrise Highway with an average daily traffic count of ~78,488 cars. It offers two ways of egress and ingress on Sunrise Highway, and is conveniently located across from the Massapequa Park LIRR train station. Park Plaza is surrounded by multiple shopping centers including Sunrise Promenade which includes NNN-credit tenants such as David’s Bridal, Babies R’ Us, GNC, Panera Bread, and Men’s Warehouse.

A full offering memorandum is available upon request.

Overview

Building Type:Commercial Buildings
Section/Block/Lot:53/103/1854-1866
Lot Dimensions: 260 ' x 120'
approx
Lot Sq Ft:31,200
approx.
Stories:1
Units:4
Zoning:Commercial - G
Year Built:2006
Building Sq Ft:9,750

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Senior Managing Director
(718) 512 2118
stephen.preuss@cushwake.com


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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.