HomeGoods Wainscott NY

March 30, 2020 – Bob Horvath and Todd Tremblay of Horvath & Tremblay have successfully completed the sale of HomeGoods in Wainscott, New York. Horvath & Tremblay exclusively represented the seller in this transaction, and procured the buyer to close the transaction at a sale price of $9,240,000, a 6.16% cap rate.

HomeGoods is located at 386 Montauk Highway (NY Route 27) in Wainscott. The stand-alone building was constructed in 2015 and contains 19,851 rentable square feet on 1.90 acres of land.  HomeGoods has over 5 years remaining on a rare, corporate backed triple-net lease with an additional four, 5-year options.  The lease also features fixed rent increases at the start of each option period.  The property is well located at the signalized intersection of Montauk Highway (NY Route 27) and Wainscott NW Road, providing a convenient location for area residents. As Route 27 is the primary roadway along Long Island’s South Shore, HomeGoods also serves the surrounding towns of Bridgehampton, East Hampton, Montauk and Sag Harbor.  The property benefits from outstanding visibility along the Montauk Highway which has traffic counts in excess of 21,000 vehicles per day.  The property, located in the prestigious East Hampton community is surrounded by high-end residential neighborhoods with a median property value in excess of $1.67 million.

Horvath & Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in the United States. Our advisors specialize in the sale of single tenant net-lease assets and retail shopping centers. They have experience successfully structuring sale lease-back programs, portfolio dispositions, and 1031 exchanges. Horvath & Tremblay is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.