Hempstead, NY Marcus & Millichap, a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, brokered the sale of Burger King, a 2,412 s/f net-leased property at 500 Fulton Ave., according to John Krueger, regional manager of the firm’s Manhattan office.
The asset sold for $3.5 million.
Michael Tuccillo and Anthony Cerrone, investment specialists in Marcus & Millichap’s Manhattan office, brought the buyer to this transaction, Hempstead BK Property LLC. The seller, Hempstead Realty LLC, was represented by Silber Investment Properties. Krueger assisted in closing this transaction.
Tuccillo said, “This was a corporate backed NNN lease with Burger King with 16+ years remaining on the lease and four, five-year options.”
Burger King is near numerous demand drives like Hofstra University, the Hempstead LIRR Station, and Memorial Sloan Kettering Cancer Center of Nassau County; augmenting the stability of the asset in both the short term and long-term picture.