349-355 Broadway - Retail FOR SALE


Amityville, NY 11701
$6,475,000 USD
516-653-6306
349-355 Broadway, Amityville, NY for Sale
$6,475,000 USD
Retail - FOR SALE
1/11
null | 7.25% Cap Rate

349-355 Broadway
Amityville, NY 11701


HIGHLIGHTS

  • 21,490 SF multi-tenant center anchored by Dollar Tree
  • Service-oriented roster: Dunkin', Teachers FCU, HearUSA, City RX & more
  • Leasehold interest with tenant purchase option — ground lease through 2066
  • 1031-eligible: ~40 years of remaining term treated as like-kind to fee

OVERVIEW

Silber Investment Properties is pleased to present 355 Broadway (Rte. 110), a 21,490 SF multi-tenant neighborhood shopping center located on Long Island's heavily traveled Route 110 corridor in Amityville. Priced at $6,475,000 at a 7.25% CAP rate, this offering represents a leasehold interest with a purchase option and produces a Net Operating Income of $468,962. The center is anchored by Dollar Tree and features a stable, service-oriented tenant roster including Dunkin', Teachers Federal Credit Union, HearUSA, City RX Pharmacy, a nail salon, and a longstanding pizza restaurant — a mix that generates the daily grocery, service, and quick-serve trips that neighborhood retail depends on. Built in 1996 on 1.78 acres with parking for 100+ vehicles, the property benefits from a dedicated traffic light plus secondary access to Dixon Avenue and sits at the heart of a Broadway corridor that has been substantially redeveloped over the past fifteen years, with 970+ new residential units delivered or master-planned within roughly one mile. The ground lease runs through May 31, 2066, leaving approximately 40 years of term — qualifying the leasehold as like-kind to a fee interest under IRS Section 1031 rules — and includes a tenant purchase option at fair market value beginning in 2056. With combined traffic counts exceeding 33,700 VPD on Broadway and strong demographics anchored to the Amityville LIRR station, 355 Broadway offers investors durable, transit-oriented cash flow in a supply-constrained Long Island submarket.

FOR SALE DETAILS

PRICE

$6,475,000 USD

PRICE/SF

$301 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

ON GROUND LEASE

Yes

BUILDING DETAILS

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1996

SPRINKLERS

-

PARKING SPACES

107

LAND DETAILS

LAND ACRES

1.78 AC

LAND SF

77,537 SF

ZONING

Business

APN/PARCEL ID

0101-003-00-02-00-020-006

ASK ABOUT THIS PROPERTY

Anthony CiafardoniSilber Investment Properties, LTDMore Info
516-653-6306

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Anthony CiafardoniSilber Investment Properties, LTDMore Info
516-653-6306

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