2040 Merrick Rd
Merrick, NY 11566

The Net Leased Investment Sales Team at Avison Young has been exclusively retained to arrange the sale of a single-tenant net-leased United States Postal Service property located in Merrick, New York. The United States Postal Service recently renewed a 10-year lease at the location. The property features a 10,742± square-foot structure on a 29,800± square-foot lot and recently completed a renovation in 2019. Just steps away from the intersection of Merrick Road and Merrick Avenue, the location offers excellent visibility and easy access along a major retail thoroughfare. As an independent agency of the US government, the United States Postal Service is responsible for providing postal services to the United States and its associated areas. With 625,000 employees and 210,000 vehicles in use, the USPS is the second largest employer and the operator of the largest vehicle fleet in the country. The lease features a below-market rent of $24.67 per square foot and a 6% rent escalation in year six of the lease, offering an investor benefits from both increased cash flow during the lease term, and future upside in below market rent realization. With very high density and an average household income of $134,000, the demographics of Merrick, New York provide an ideal setting for the United States Postal Service to continue to thrive. The intersection of Merrick Road and Merrick Avenue is a prime retail corridor with traffic counts exceeding 35,400 vehicles per day. National tenants in the immediate area include Trader Joe’s, HomeGoods, Gap, Gap Kids, CVS Pharmacy, 7-Eleven, and a number of national banks and quick service restaurants. The property also benefits from proximity to a number of local schools including The Birch School and Levy Lakeside School. The property is being offered without an asking price.