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34336212
34336213

1155 HEMPSTEAD TPKE, FRANKLIN SQUARE, NY 11010-1539

CC
NY NY 10491203246
Sovereign Realty Group
Listed by Sovereign Realty Group
$1,495,000
5 days on market
Updated 0 days ago

Corner Low Price PSF Retail Building For Sale w/ Upside

Details
APN 35 39 1
Property Type Retail, Office (+1)
Sub Type Convenience Store, Medical Office (+1)
Square Footage 8,227
Units 3
Cap Rate 5.76%
NOI $86,113
Occupancy 75%
Tenancy Multi
Lease Type Net
Pro-Forma Cap Rate 10.25%
Pro-Forma NOI $153,202
Price per SqFt $182
Year Built 1938
Buildings 1
Stories 1
Lot Size (SqFt) 11,527
Investment Type Owner/User
Ground Lease No

Great Corner Visibility With Low Per Square Foot Sale Price

Marketing description

This investment deal presents both an investor and owner / occupant the ability to rent out the prime corner store. The asking rent on the 2,354 square foot corner store is $28.50 per square foot net, which would yield an additional $67,089.00 to the bottom line. It is priced at an unbelievably low $180.62 per square foot, even the real estate taxes are $2.45per square foot. The roof over the retail stores was ripped up and replaced approximately 4 years ago. The 5 ton HVAC unit over the convenience store was replaced about 3 years ago. In addition, the 3 ton unit over the rear warehouse tenant was replaced last year.

Investment highlights

- NOI DOES NOT INCLUDE ANY MONEY FOR THE VACANCY

- Great Corner Visibility

- Low Per Square Foot Sale Price & Low Per Square Foot Taxes

- Over 770,000 Residents Live Within A 5 Mile Radius

- Median Household Income Levels Above $127,000 Annually

- Over 31,000 Cars Pass The Site Daily

Listing Contacts

CC
NY NY 10491203246
Sovereign Realty Group
Listed by Sovereign Realty Group

Valuation Calculator

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$86,113.00
$7,176.08/mo

Valuation Metrics

0
DSCR
5.76%
Cap Rate
5.76%
ROI

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Additional Information

Name
Clem Cote'
License
NY 10491203246
Brokerage Phone
5163409696
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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