2-10 Merrick Ave - Apartments FOR SALE


Merrick, NY 11566
$5,000,000 USD
516-818-5626
2-10 Merrick Ave, Merrick, NY for Sale
$5,000,000 USD
Apartments - FOR SALE
1/4
null | 6.35% Cap Rate

2-10 Merrick Ave
Merrick, NY 11566


OVERVIEW

Ron Kleinberg of Tri-State Properties has been retained as the Exclusive selling broker to represent RJ Merrick LLC in the disposition of the retail/apartments, priced at $5,290,000. The three-story building, adjacent to the Merrick Train Station, is located at 2-12 Merrick Ave & 2 Nagel Court in Merrick, NY. This low-rise, mixed use walk-up building constructed in the 1920s, consists of 12 apartments (free market) and 9 commercial tenants. Currently, the building is 100% occupied with a mixture of local retail and office tenants on the first floor. The owner spent approximately $250,000 on renovations in early 2021-2022, updating the facade, as well as resurfacing the parking/striping, painting & roof repairs. The building is situated on 0.61 acres and has a dedicated 30-car parking lot in the back (+ street parking). If you are interested in pursuing this opportunity, I would be pleased to send you the pro-forma. Property tours will be available by appointment only. Please contact Tri-State Properties, Exclusive Broker to schedule inspections. Ron Kleinberg Cell: 516-818-5626 Email: rkleinberg@tri-stateproperties.net www.tristatepropertybrokers.com

FOR SALE DETAILS

PRICE

$5,000,000 USD

PRICE/SF

$195 USD /SF

# OF UNITS

12

PRICE/UNIT

$416,667

CAP RATE

6.35%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1929

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.61 AC

LAND SF

26,572 SF

ZONING

-

APN/PARCEL ID

2089-56-170-00-0080-0

ASK ABOUT THIS PROPERTY

Ron KleinbergTri-State PropertiesMore Info
516-818-5626

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Ron KleinbergTri-State PropertiesMore Info
516-818-5626

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.