East Northport, NY; Schuckman Realty is pleased to announce the sale of a single tenant Advance Auto Parts Store located at 524 Larkfield Road, East Northport, NY 11731. John Roos of Schuckman Realty’s Investment Sales team represented both buyer and seller in this transaction. The property sold for $1,650,000 at a 4.44% Cap Rate.
“The buyer purchased this asset through a 1031 Exchange in order to move out of a management intensive multi-family property and we were able to assist them in their first long-term STNL corporately-guaranteed asset.
The Seller of the asset was able to successfully execute a blend and extend to achieve a +300bps spread on their investment, from the time of the purchase to sale of the property.” Noted John Roos; “I was happy to have represented and sold this property for a second go with a repeat client, he added.”
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. Schuckman has developed a reputation as a leading retail broker and developer in the New York Metro area, with special expertise in developments, redevelopments, and renovations in all Five Boroughs of New York City and Long Island. As a strategic planner of retail stores, shopping centers and boutique projects, Schuckman has been responsible for tens of millions of square feet of leasing and development and has been hired by numerous national retail chains to facilitate macro–market penetration. We attribute our success to our intimate team’s proficiency in market analysis and site planning, in addition to tireless dedication and extensive experience from both sides of the table.
Keywords: Long Island Business, Advance Auto Parts, Auto Parts News, Business News, Real Estate, Schuckman Realty, Long Island Real Estate, New York Real Estate, Retail News, 1031 Exchange, STNL, Single Tenant, Investment Sales