Net Leased Bethpage Federal Credit Union Property Sold - Melville, NY
NET LEASED BETHPAGE FEDERAL CREDIT UNION PROPERTY SOLD
July 2017 Invest Commercial, a net leased investment brokerage firm, has completed the sale of a single tenant Bethpage Federal Credit Union property located at 700 Walt Whitman Road, Melville,NY for $1,750,000.The 4,000 Sq. Ft. building is located on one of Suffolk County’s busiest roads, within proximity to Walt Whitman Shops and many other retail outlets. The bank branch is a relocation from an adjacent shopping center. Bethpage Federal Credit Union has been a tenant on the Route 110corridor for over 30 years.There are 6 years left on the base lease term with renewal options. The absolute triple netlease features zero landlord responsibilities and features a full corporate guarantee. Invest Commercial represented both the buyer and seller of the property.“This particular bank property generated a lot of interest because of its low price point and location”, said Frank Caporrino, President of Invest Commercial. “The market remains strong for triple net leases in the local metropolitan area”. ABOUT INVEST COMMERCIAL:
Invest Commercial is a full service real estate brokerage firm specializing in single tenant net lease assets throughout the country. The Invest Commercial team provides a broad range of investment advisory services to our clients.
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