571-575 Atlantic Avenue Oceanside, NY 11572
Retail | 7.3% Pro Forma CAP | 2,795 SqFt
Marketing description
East Coast New York Inc. is proud to present a prime investment opportunity at 571-575 Atlantic Avenue, Oceanside, NY 11572. This ±2,795 SF single-story retail building sits on a combined ±0.11-acre site (3 tax lots) directly across from the East Rockaway LIRR station, commanding excellent visibility and over 38,000 vehicles in average daily traffic along Atlantic Avenue.
The property features 4 separate storefronts, including a long-term convenience store and restaurant/deli tenant, alongside a nail salon and retail store, providing a diversified retail income stream. Two of the four units are secured by leases extending through 2030, with one tenant holding a pre-negotiated renewal option, while the remaining unit is currently owner-occupied — offering a new owner immediate flexibility to lease it at market rate or occupy it directly.
The location benefits from a densely populated trade area, with over 25,700 residents and a median household income exceeding $122,000 within one mile, surrounded by national credit retailers including Lidl, PC Richard's, Wendy's, and Stop & Shop. Built in 1964 and situated in the heart of Oceanside's retail corridor, this asset represents a rare opportunity for investors seeking a well-located, multi-tenant retail property with built-in income stability and upside potential.
Investment highlights
Prime Atlantic Avenue Location: Situated directly across from the East Rockaway LIRR station with +38,000 average annual daily traffic (AADT) and excellent visibility.
- Multi-Tenant Retail Asset: Features 4 separate storefronts across a ±2,795 SF single-story building, including a convenience store, restaurant/deli, nail salon, and retail store.
- Value-Add Opportunity: One unit (575) is currently owner-occupied and not generating rental income — offering a buyer the ability to lease it at market rate ($3,750/mo) or occupy it themselves.
- Solid Financial Performance: Generates a pro forma Net Operating Income (NOI) of $84,204 with a 7.3% Cap Rate once Unit 575 is leased at market rent.
- Long-Term In-Place Leases: 571 and 573 are leased through 2030, with 573 carrying a pre-negotiated 3-year renewal option — providing built-in income stability and reduced rollover risk.
- Densely Populated Trade Area: Over 25,700 residents within 1 mile and a median household income of $122,030, surrounded by national credit retailers including Lidl, PC Richard's, Wendy's, and Stop & Shop.
Listing Contacts
Valuation Calculator
Valuation Metrics
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Is there information that looks off?
