272 Broadway - Retail FOR SALE


Bethpage, NY 11714
$1,400,000 USD
917-400-9512
272 Broadway, Bethpage, NY for Sale
$1,400,000 USD
Retail - FOR SALE
1/52
null | 2.72% Cap Rate

272 Broadway
Bethpage, NY 11714


HIGHLIGHTS

  • Mixed-use asset with one retail unit and two residential apartments.
  • Two apartments were renovated approximately four months ago.
  • Approximately 4,517 SF of rentable building area on a 9,000 SF lot.
  • Detached two-bay commercial garage provides additional functionality.
  • Twelve on-site parking spaces serve commercial and residential users.
  • Separate utility responsibility and individual electric metering for tenants.

OVERVIEW

Offered for sale is a mixed-use investment property consisting of one retail unit and two renovated residential apartments on a 9,000-square-foot parcel. The property contains approximately 4,517 SF of rentable space and benefits from diversified income generated by both commercial and residential tenancy. The two second-floor apartments have been recently renovated and feature gas-fired central heating and air conditioning, while the retail space and basement utilize oil-fired hot water heat with wall-mounted air conditioning units. The property is designed for efficient operation with separate utility responsibility for tenants, individual electric metering, and 200-amp electrical service. Additional amenities include a full basement for storage, a detached two-bay commercial garage, and 12 dedicated parking spaces. Current gross rental income totals $90,480 annually, generating a current net operating income of $38,030.93. Investors may benefit from future income growth through potential retail rent adjustments to prevailing market levels. Combined with recently renovated residential units, ample parking, and supplemental storage and garage improvements, the property presents an opportunity to acquire an income-producing asset with both current cash flow and value-add potential.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$310 USD /SF

CAP RATE

2.72%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

ADD'L SUBTYPES

Restaurant, Storefront, Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,148 SF

ZONING

C

APN/PARCEL ID

2489-46-115-00-0040-0

ASK ABOUT THIS PROPERTY

Mr. Usman NaeemOverSouth LLCMore Info
917-400-9512

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Mr. Usman NaeemOverSouth LLCMore Info
917-400-9512

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