222 Hempstead Ave - Storefront Retail/Residential FOR SALE


Lynbrook, NY 11563
$1,100,000 USD
516-458-4847
222 Hempstead Ave, Lynbrook, NY for Sale
$1,100,000 USD
Storefront Retail/Residential - FOR SALE
1/19
null | Request Cap Rate

222 Hempstead Ave
Lynbrook, NY 11563


OVERVIEW

Located at the heart of the five corners, this cash flowing commercial mixed-use asset consists of a ground floor retail space and two residential apartment units, a well manicured back lawn, and two dedicated parking spaces. Each apartment unit is a fully updated 2 bedroom, 1 bathroom with annual leases in place and long-term reliable tenants. The upstairs residential tenant is paying $2,850/month and the first-floor residential tenant is paying $2,200/month, well below market rent. The commercial tenant is in the third year of a five year gradual rate increase lease, and is currently paying $3,502/month, bringing gross annual income to $102,624. The commercial tenant has very consistent clientele with plenty of foot traffic and has operated a successful business out of the retail space for many years. This consistently cash flowing property has been well maintained and is conveniently located less than 10 minutes from the Lynbrook, Valley Stream, Rockville Centre and Malverne train stations.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$368 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1949

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,792 SF

ZONING

-

APN/PARCEL ID

2025-38-035-00-0116-0

ASK ABOUT THIS PROPERTY

Robert ManelSignature Premier PropertiesMore Info
516-458-4847

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Robert ManelSignature Premier PropertiesMore Info
516-458-4847

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