A 1,582 square foot NNN property at 375 Plandome Road in Manhasset sold for $2.1 million in May 2025 at a 5.19% cap rate — $1,327 per square foot. The tenant is Starbucks. Plandome Road is one of the stronger retail corridors on the North Shore of Nassau County.
National credit tenants in high-barrier North Shore locations continue to trade at aggressive cap rates. If you own a NNN property and are thinking about your options, give me a call.