Fully Executed Contract on Brand New Constructed 7-Eleven with Gas
North Village Realty is pleased to announce that 2962 Long Beach Road, Oceanside, NY is fully under contract — secured with no financing contingency on behalf of our buyer. The asking price was $7.850M with a 4.4% cap rate.
The property is a brand-new construction 7-Eleven with gas, currently being built on a ±1.20-acre signalized corner parcel along one of Nassau County's most active retail corridors. Upon completion, the store will feature 16 fueling positions and a ±4,788 SF convenience store built to 7-Eleven's newest prototype design. The asset is structured as a 20-year corporate-guaranteed absolute NNN ground lease with 10% rental escalations every five years — offering the acquiring investor a completely passive, long-term income stream backed by one of the most recognizable investment-grade tenants in the net-lease sector.
What makes this transaction particularly notable is that North Village Realty put this asset under contract before the concrete was even poured — identifying the opportunity, aligning the right buyer, and executing a no-financing-contingent deal while the property was still in the early stages of development. Construction is actively underway with the store expected to open in the summer of 2026.
Long Beach Road serves as a primary connector between Oceanside, Island Park, and Rockville Centre — a densely populated South Shore corridor with over 457,000 residents within five miles and average household incomes exceeding $170,000. The immediate trade area is defined by the kind of daily-needs density that sustains long-term retail performance regardless of broader economic conditions. This is a location where people stop multiple times a week, not once a month — and that consistency is exactly what underwrites a 20-year net-lease investment with confidence.
This transaction is a direct reflection of what separates North Village Realty from the broader market — the ability to source opportunity early, bring the right capital to the table, and close decisively before others even know the deal exists.