The Island Professional Center
120 West Park Avenue, Long Beach, NY 11561
Marketing description
Real Estate Strategies, LTD has been retained as the exclusive advisor for the 100% fee simple interest in The Island Professional Center located at 120 West Park Avenue Long Beach, NY ("The Property").
We are offering for sale a prime commercial property at 120 W Park Avenue in Long Beach, New York. Strategically located directly opposite the LIRR station, it offers seamless commuter access to Manhattan and Long Island. The property is just blocks from the ocean and the Long Beach Boardwalk, enhancing its lifestyle appeal. Recent renovations, including new storefronts and updated building systems, ensure a turnkey investment. The property offers flexible layouts for multiple uses—office, medical, or spa—and boasts rare on-site parking. The Property is near shops and dining; this is an exceptional opportunity for investors seeking growth potential in a vibrant coastal community with an attractive yield in a market with substantial barriers to entry.
Investment highlights
- Tenancy - Stable tenancy with below market rents representing significant upside, in addition to a well-run Co-work space
- Prime Location – Situated directly across from the Long Island Rail Road (LIRR) station, offering immediate commuter access to Manhattan and the greater Long Island region. Just two blocks from the Atlantic Ocean, Long Beach Boardwalk, and beachfront amenities, enhances tenant lifestyle appeal. – Local stores include Starbucks, CVS, Stop & Shop, banks, restaurants, and retail all within steps.
- Modern Renovations – Recent upgrades include new storefront windows, refreshed exterior, and updated building systems, presenting a turn-key investment.
- Flexible Tenancy – Configurable layouts accommodate multi-tenant or full-floor occupancy. Suites are adaptable for office, therapy, medical, or spa-style use. On-Site Parking – Rare for Long Beach, the property features 18 on-site spaces, supplemented by abundant municipal and street parking nearby.
- Existing Financing (Assumable): $2,880,000 @6.75% 5+5 term w/25-year amortization
- Fixed monthly payments at $19,898.25: Years 6-10 Prime + 0.25% floating/floor @6.75%
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