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Citibank & Vitamin Shoppe NN Multi-tenant

502 Old Country Road · Garden City, NY 11530 · Banking / Financial

Asking price
$11,250,000
Cap rate
7.09%
NOI
$797,700

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Lease

Lease typeNN
Term remaining4.0 yrs
Expiration08/2030
Rent bumpsVariable
Options1, 5-Year Option
Ground leaseNo
Credit profileCorporate Guarantee
TenancyMulti

Planning a 1031 Exchange

Give us your relinquished sale close date and we will calculate your 45-day identification and 180-day closing deadlines, track the clock, and surface matching inventory before it expires. We coordinate directly with your Qualified Intermediary and can introduce one if you have not yet engaged an exchange accommodator. Investment Grade does not provide tax or legal advice.

Property

Building SF7,000
Price / SF$1,607
Year built2006
Lot size0.42 ac
TypeMulti-tenant
Days on market13

Need year-one bonus depreciation

Building age, size and improvement mix drive how much of this asset a cost segregation study can accelerate into year one. Tell us your tax year and entity and we will model the deduction.

Investment highlights

Irreplaceable Hard Corner - 90,000+ Vehicles per Day

  • ​Highest visibility corner in Nassau County – full wraparound frontage
  • ​Daily traffic counts exceed 90,000 at the signalized intersection of Old Country Rd and Clinton Road

A+ Retail Area (Roosevelt Field Mall)

  • ​Outstanding retail density in the heart of the Roosevelt Field Mall area
  • ​Roosevelt Field Mall attracts over 22 million visitors annually and is the largest shopping mall on Long Island

Recent Lease Extensions

  • ​Both tenants have agreed to multiple lease extensions since inception – as recently as below:
    • ​May 2025 (Vitamin Shoppe)
    • ​Feb 2024 (Citibank)

Convenient Highway Accessibility

  • ​Located a quarter mile from the off-ramp/on-ramp to the Meadowbrook State Parkway which carries an additional 106,800 daily vehicles to and from the area

High Performing Tenants

  • ​Citibank has tremendous deposits over $420M, and over 10 years of occupancy history
  • ​Vitamin Shoppe has nearly 20 years of occupancy history

Minimal Landlord Responsibility

  • ​Limited to roof and structure
  • ​Landlord receives tax and CAM reimbursements

Affluent Demographics with Strong Population Density

  • ​1​5,000 residential population in a 1-mile radius of the property; 177,000 within 3-miles
  • ​High median household income – exceeding $125,000 in a 1-mile radius

Ample Parking

  • ​43 spaces
  • ​Multiple ingress and egress points

Property overview

Surmount is pleased to present the exclusive listing for a Citibank & Vitamin Shoppe located at 502 Old Country Road, Garden City, NY 11530.​ The site consists of roughly 7,000 rentable square feet of building space on an estimated 0.42-acre parcel of land.​ The current annual NOI is $797,700.​ Please see the rent roll on page 5 for more information.​

Take the next step on this property

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Asking-market observation aggregated from public listing sources, last observed Sep 18, 2026. Figures are asking price and asking cap rate as published by the listing party, not a verified closed transaction. Lease terms shown where reported by the listing party and not independently verified. Shown for market reference only; this is not an offering. Investment Grade Income Property, LP represents buyers on a cooperating commission basis.