43
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$2,450,000
Est. payment /mo
0.55 Acres Lot
New
350 Veterans Memorial HWY Commack, NY 11725
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Additional details
UPDATED:
Key Details
Property Type Commercial
Sub Type Business
Listing Status Active
Purchase Type For Sale
MLS Listing ID KEY844542
Originating Board onekey2
Rental Info No
Year Built 1984
Annual Tax Amount $37,185
Lot Size 0.550 Acres
Acres 0.55
Property Sub-Type Business
Property Description
Calling All Investors, Developers & End-Users!!! 8.93 Cap 9,900+ Sqft. 6 Unit Office Building On A 23,900+ Sqft. Lot On Veterans Memorial Hwy. For Sale!!! The Building Features Excellent Signage, Great Exposure, O-B Zoning, 54 Parking Spaces, Private Parking Lot, High 8' Ceilings, Conference Rooms, Separate Meters, Strategically Placed Curb Cut, Basement, Accessible Parking, Chair Lift, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Commack On Route 454 Just Off The Northern State Pkwy.!!! The Property Is Situated Only Minutes From The I-495 (LIE) + Sagtikos Pkwy.!!! Neighbors Include Starbucks, BMW, Mazda, Mitsubishi, The Home Depot, Walmart. Target, Costco, 7-Eleven, Dunkin', LA Fitness, Planet Fitness, PetSmart, Whole Foods, Outback Steakhouse, Michaels, Burlington, Hobby Lobby. Friendly's, Trader Joe's, IHOP, +++!!! According To The Seller The Building Roof Is 5 Years Old With 35 Years Left On The Warranty!!! The Building Has 119' Of Frontage On Busy Route 454!!! This Property Has A Daily Traffic Count Of 19,000+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or The Next Home For Your Business!!!
Income:
2nd Floor:
Law Office (1,200 Sqft.): $27,828 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/25 + 2 Year Option.
Therapist (1,200 Sqft.): $27,816 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/30.
1st Floor:
Rear Unit (1,850 Sqft.): $61,050 Ann. (Available)
Front Unit (1,850 Sqft.): $61,050 Ann. (Available)
LL:
#1 Chiropractor: $50,400 Ann.; 5% Ann. Inc.; Lease Exp.: 9/1/26 + 3 Year Option.
#2A Dr. Mednick: $24,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2030 + 3 Year Option.
#2B Dr. Silverman: $8,400 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/29.
Tax Rebates: $2,300 Ann.
Total Gross Income: $262,844 Ann.
Expenses:
Electric: $783 Ann. (Common Areas Only)
Gas: $0 Ann. (Common Areas Only)
Insurance: $3,859 Ann.
Maintenance & Repairs: $250 Ann.
Water: $386 Ann.
Garbage: $600 Ann.
Snow & Landscape: $890 Ann.
Taxes: $37,185.68 Ann.
Total Expenses: $43,953.68 Ann.
Net Operating Income (NOI): $218,890.32 Ann. (Pro Forma 8.93 Cap!!!)
Income:
2nd Floor:
Law Office (1,200 Sqft.): $27,828 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/25 + 2 Year Option.
Therapist (1,200 Sqft.): $27,816 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/30.
1st Floor:
Rear Unit (1,850 Sqft.): $61,050 Ann. (Available)
Front Unit (1,850 Sqft.): $61,050 Ann. (Available)
LL:
#1 Chiropractor: $50,400 Ann.; 5% Ann. Inc.; Lease Exp.: 9/1/26 + 3 Year Option.
#2A Dr. Mednick: $24,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2030 + 3 Year Option.
#2B Dr. Silverman: $8,400 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/29.
Tax Rebates: $2,300 Ann.
Total Gross Income: $262,844 Ann.
Expenses:
Electric: $783 Ann. (Common Areas Only)
Gas: $0 Ann. (Common Areas Only)
Insurance: $3,859 Ann.
Maintenance & Repairs: $250 Ann.
Water: $386 Ann.
Garbage: $600 Ann.
Snow & Landscape: $890 Ann.
Taxes: $37,185.68 Ann.
Total Expenses: $43,953.68 Ann.
Net Operating Income (NOI): $218,890.32 Ann. (Pro Forma 8.93 Cap!!!)
Location
State NY
County Suffolk County
Interior
Heating Other
Cooling Central Air
Fireplace No
Exterior
Utilities Available Electricity Connected, See Remarks, Sewer Connected, Trash Collection Public
Building
Sewer Public Sewer
Water Public
Structure Type Block,Frame
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp