Mixed-Use Property in Bethpage

329 Broadway,
Bethpage, NY 11714

 

$5,900,000
Price
15
Number of Units
$393,333
Price Per Unit
18,000
Building SF
5.90%
Cap Rate
12,632
Land SF
$5,900,000
Price
15
Number of Units
$393,333
Price Per Unit
18,000
Building SF
5.90%
Cap Rate
12,632
Land SF

Investment Highlights

  • For Sale: Fully occupied mixed-use building in Bethpage
  • The subject consists of six (6) retail and commercial units, and seven (7) residential units
  • Seven residential units located on the second floor are comprised of three (3) two-bedroom two-bath and four (4) one-bedroom one-bath units. Two bedroom units are extra large at 1,300 to 1,700 SF with current rents from $3,100 to $3,800. One-bedroom units range from 660 to 990 SF with current rents from $2,100 to $2,350. All apartments have luxury finishes with in-suit washer & dryer, central air-conditioning for cooling and heating, recessing lighting and recessed sprinkler fire protection system.
  • Retail tenants include T-Mobile, Twin Flame Crystal Boutique, The Church of Scientology, Balance Body Pilates and Fitness, and Ubuntu Revolution
  • Surrounded by abundant parking spaces and neighborhood retail and amenities
  • All utilities are separately metered and paid by tenants.
  • The town approved the owner's variance application to allow for all the tenants including commercial and residential tenants to obtain parking permits.
  • Boasting a coveted location adjacent to the LIRR Bethpage station and within the heart of a bustling Bethpage Downtown retail corridor, this prime Mixed-Use property at 329 Broadway offers a lucrative investment opportunity.

Location Summary

  • Subject property is located on Broadway, adjacent to the LIRR Bethpage parking lot, and approximately 0.3 miles west of Seaford-Oyster Bay Expressway. The traffic count at this location is approximately 12,679 vehicles per day.
  • Surrounded by various neighborhood retail and amenities including Bethpage Public Library, Bethpage Public Pickleball Courts, Chase, King Kullen and various local restaurants and retail stores to the north; churches and various local restaurants and retail stores to the south; nearby shopping and noticeable amenities includes Town of Oyster Bay Ice Skating Center and Bethpage State Park including Bethpage Polo at the Park, Bethpage State Park Soccer Field, Bethpage Yellow Golf Course, Bethpage Black Course, Bethpage State Park Green Course and Bethpage State Park Playground, all within a short driving distance from the subject.
FOR MORE DETAILS CONTACT
Raj Whadwa
Managing Partner
(516) 316-0722
raj@grs-us.com
10991239274