Eric Hotaling
erichotaling@kw.com5,532 Sqft Lot
5,532 Sqft Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1036053
Rental Info No
Year Built 1920
Annual Tax Amount $38,372
Lot Size 5,532 Sqft
Acres 0.127
Property Sub-Type Mixed Use
Source onekey2
Property Description
The residential units were completely renovated approximately four months ago and feature gas-fired central heating and air conditioning, providing modern comfort and efficiency for tenants. The retail space and basement are serviced by oil-fired hot water heat and wall-mounted air conditioning units.
The property also includes a full basement offering ample storage space, a detached two-bay commercial garage, and an on-site 12-car parking lot, providing excellent convenience for both residential and commercial occupants.
Each unit is separately metered for electricity, allowing tenants to pay their own electric utilities. The building is serviced by 200-amp electrical service.
Investment Highlights
Mixed-use building with 1 retail unit and 2 residential apartments
Two renovated 2-bedroom apartments
Approximately 6,125 sq. ft. of rentable space
9,000 sq. ft. lot
Detached 2-door commercial garage
12 dedicated parking spaces
Full basement for storage
Separate electric meters for each unit
Residential units feature gas central heat and central air
Retail space and basement feature oil-fired hot water heat with wall A/C units
200-amp electrical service
Tenants pay their own utilities
Financial Summary
Current Monthly Gross Rental Income: $7,540
Annual Gross Rental Income: $90,480
Annual Operating Expenses (including taxes): $50,658.74
Current Net Operating Income (NOI): $39,820.26
Value-Add Opportunity
The retail space offers the opportunity for rental increases to current market rates, providing investors with the potential to achieve an estimated 9% capitalization rate. With renovated residential units, separate utilities, abundant parking, and additional income potential, this property presents an excellent opportunity for both investors and owner-users seeking stable cash flow with future upside.
******All information provided is deemed reliable but is not guaranteed and should be independently verified by prospective buyers and their representatives. Property details, including but not limited to square footage, lot size, income, expenses, zoning, permits, taxes, leases, and all other information, are subject to verification. The listing broker and listing agent make no representations or warranties, express or implied, as to the accuracy or completeness of the information provided and assume no responsibility for any errors, omissions, or changes. Buyers are advised to conduct their own due diligence before entering into any agreement**********
Location
State NY
County Nassau County
Rooms
Basement Storage Space
Interior
Heating Baseboard, Forced Air, Hot Air, Hot Water, Natural Gas, Oil
Cooling Central Air, Wall/Window Unit(s)
Flooring Hardwood
Fireplace No
Appliance Dishwasher, Dryer, Exhaust Fan, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s), Washer, Gas Water Heater, Oil Water Heater
Exterior
Parking Features Driveway, Garage, On Street, Parking Lot
Fence Chain Link
Utilities Available Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Public, Water Connected
Total Parking Spaces 12
Building
Lot Description Paved
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Structure Type Brick,Frame,Stucco
Schools
Elementary Schools Central Boulevard Elementary School
Middle Schools John F Kennedy Middle School - Nassau
High Schools Bethpage
School District Bethpage
Others
Special Listing Condition None
