238-240 Deer Park Ave - Storefront Retail/Office FOR SALE


Babylon, NY 11702
$4,877,000 USD
238-240 Deer Park Ave, Babylon, NY for Sale
$4,877,000 USD
Storefront Retail/Office - FOR SALE
1/28
null | 6.43% Cap Rate

238-240 Deer Park Ave
Babylon, NY 11702


HIGHLIGHTS

  • Building 1: A three-story structure with eight residential apartments (4 Two-Bedroom & 4 One-Bedroom) and two ground-floor retail spaces.
  • Building 2: A one-story structure with four retail spaces, maximizing street-level visibility and foot traffic.
  • 14 Space Parking Lot

OVERVIEW

This prime mixed-use investment property is strategically located at the high-traffic intersection of Deer Park Avenue and Railroad Avenue in the heart of Babylon Village—directly across from the train station with express service to Manhattan. The offering consists of two attached buildings on a single deeded lot, featuring a diverse mix of residential and retail tenants, along with a separately deeded private parking lot with 14 dedicated spaces—a rare and highly sought-after amenity in this bustling downtown location. Building 1: A three-story structure with eight residential apartments (4 Two-Bedroom & 4 One-Bedroom) and two ground-floor retail spaces. Building 2: A one-story structure with four retail spaces, maximizing street-level visibility and foot traffic. Each unit is separately metered for electric and gas, ensuring ease of management and tenant responsibility for utilities. Six of the eight apartments have been fully renovated, while Apartment #1 and Apartment #7 remain in original condition with under market rents, they offer additional value-add potential. The property is sewer-connected and gas-serviced, with three grease traps in place to accommodate restaurant or food-service tenants. With favorable zoning allowing for future expansion, Building 1 has the potential for an additional floor, while Building 2 can be expanded up to three additional stories, making this an exceptional opportunity for investors looking to enhance long-term value through development.

FOR SALE DETAILS

PRICE

$4,877,000 USD

PRICE/SF

$361 USD /SF

CAP RATE

6.43%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1905

SPRINKLERS

-

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,761 SF

ZONING

Mixed Use

APN/PARCEL ID

0102-010-00-01-00-017-000,0102-010-00-01-00-019-000

ASK ABOUT THIS PROPERTY

Stacy McFaddenSignature Premier PropertiesMore Info

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