52-54 Broadway - Storefront Retail/Office FOR SALE


Greenlawn, NY 11740
$4,500,000 USD
631-360-4303
52-54 Broadway, Greenlawn, NY for Sale
$4,500,000 USD
Storefront Retail/Office - FOR SALE
1/13
null | Request Cap Rate

Oct '25


52-54 Broadway
Greenlawn, NY 11740


HIGHLIGHTS

  • Optimally positioned in one of Western Suffolk County’s desirable North Shore villages. 
  • Excellent User Opportunity - Newly renovated second floor with flexible floor plan for future tenancy and over $1,000,000 invested in renovations
  • Very reasonable average net rent in current leases; below replacement cost acquisition.
  • Large private parking lot to accommodate tenants & their patrons, & walking distance to LIRR Greenlawn station, restaurants, retail & medical offices
  • Seller may consider holding a first mortgage of 65-70% for 2-3 years. Can be delivered free and clear of debt.
  • Contact John Thomas at 631-271-4300 or jt@selectrealequity.com for the full Offering Memorandum including a detailed Rent Roll .

OVERVIEW

Select Real Equity Advisors, LLC (“SREA”) has been retained by the (“Owner”) on an Exclusive Basis to handle the sale transaction for the +/-18,018 SF Retail/Mixed Use, +/- 1 acre property, located at 52-54 Broadway, Greenlawn, Suffolk County, NY, (“52-54 Broadway”). 52-54 Broadway is optimally positioned in the center of Greenlawn Village’s commercial district with restaurants, shopping and medical/professional offices - all of which are supported by and service the strong area demographics. The property features a large private parking lot to serve the tenants and their customers. The property is a very short walk to the Long Island Rail Road’s Greenlawn station, with rail service to New York City. Located in Western Suffolk County, on Long Island’s desirable North Shore, 52-54 Broadway has desirable area demographics of approximately 85,000 people with average family incomes of $198,190 living within three miles. The offering is comprised of 2 tax lots with the 2-story building materially functioning as one structure. The property has 6 retail storefronts (+/-9,009 sf) and is occupied with a mix of community-oriented businesses with long-term retail tenants such as Healy’s Restaurant & Inn and Beau’s Bar, along with a nail salon, a spa and an attractive fully leased co-working space. The building’s operational efficiency has been improved through the installation of networking, video monitoring and digital lock system. The second floor was completely renovated in 2023/24 with more than $1,000,000. invested (see enclosed info) and was designed to offer significant floor plan flexibility for future tenants. Along with an appx. 1,000 sf of retail space, The Compliancy Group “CG” (a SAAS company for the medical profession) had leased the entire +/-9,009 sf second floor. The company was sold and they vacated in the summer of 2025, allowing new ownership to direct their vision for this well-located asset. The +/-1,000 sf of CG retail space has been leased on a short term, mo/mo basis to NYPERG. The ProForma reflects an average Gross Rent of $27.61 psf while a current CoStar analysis reports the Western Suffolk NNN asking rent at $34.83 psf. New ownership may realize the opportunity to enhance net income growth through optimizing leasing, management and operations. In addition, there is a basement area of +/-2,350 sf that may be monetized with storage rental income, providing the opportunity to further enhance future NOI. This +/- 1 acre property has ample surface parking at the rear of the building, as well as street parking on Broadway. 52-54 Broadway is located within the Town of Huntington and appx. 70% of the property is zoned C-6 commercial with appx. 30% of the rear of the property zoned R-5. The C-6 zoning permits a variety of uses including retail, medical and professional offices, as well as apartments (see details enclosed). There may be the ability to create a lobby with an elevator in the space that is currently utilized as NYPERG’s first floor space.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$250 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Desirable North Shore Mixed Use Building

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

ADD'L SUBTYPES

Storefront, Loft/Creative Space, Medical

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

58

LAND DETAILS

LAND ACRES

1.04 AC

LAND SF

45,302 SF

ZONING

C6

APN/PARCEL ID

0400-110-00-04-00-007-000

ASK ABOUT THIS PROPERTY

John ThomasSelect Real Equity AdvisorsMore Info
631-360-4303

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John ThomasSelect Real Equity AdvisorsMore Info
631-360-4303

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