A retail property in Huntington Station has sold for $4.05 million.
111 Depot Realty LLC, an affiliate of a Long Island-based commercial real estate investor, purchased the 11,865-square-foot building on 1.24 acres at 111 Depot Road.

The property is leased to a CVS Drugstore on a lease term that’s been extended for 11 more years.
The sale price equates to a 7.16 percent cap rate.
Matt Colantonio of Schuckman Realty represented the buyer, as well as the seller, 7024 Queens Boulevard LLC, in the sales transaction.
“Schuckman Realty represented the seller, an estate, on an early lease extension with CVS in 2023 and we were hired exclusively to take the property to market for sale,” Colantonio told LIBN. “We were faced with rising interest rates, decreasing buyer confidence in the pharmacy market, and various lease terms and adverse physical building and title conditions which presented a challenging marketing process that saw numerous failed contracts. We ended up closing with an all-cash, local Long Island buyer who offered to close in less than a month.”
For more information about investment sales or for an opinion of value for your commercial property reach out to Matt at:

Lic. Associate RE Broker
matt@schuckmanrealty.com