Project Description

Online Auction: Mixed-Use Building in Lynbrook, NY

393 Sunrise Highway, Lynbrook, NY 11563

Executive Summary

Price: Register on Ten-X to Bid
Building Size: 8,900 SF
Property Type: Mixed-Use
Lot Size: 0.11 Acres
Year Built: 1921
Occupancy: 67%
NOI (Pro Forma): $166,127
Location:
393 Sunrise Highway
Lynbrook, NY 11563

Click here to view Due Diligence Materials on Ten-X.

Investment Highlights

  • 5 Minutes Walking Distance From Lynbrook LIRR Station
  • Located on The Busy Signalized Intersection on Sunrise Highway & Atlantic Ave
  • Traffic Counts Over 44,800+ Vehicles Per Day
  • Strong Value-Add Potential to Lease Up Vacant Offices at Market Rents
  • Current Tenants Contribute to Expenses, Have Options to Extend and Annual Rent Increases

Property Description

American Investment Properties is exclusively retained to sell this two-story mixed-use building, located on the southeast corner of Sunrise Hwy. The property consists of 3 retail, and 5 office units and is currently 67 percent occupied. This provides a great value-add opportunity to lease up the second floor vacant offices at market rents.

Located on the corner of the busy signalized intersection at Atlantic Ave in Lynbrook, this building has daily traffic counts over 44,800 vehicles per day.The Long Island Rail Road Lynbrook Station is located across the street.

The offices upstairs are elevator accessible and each unit comes with a private restroom and are separately sub-metered for utilities (including gas and electric).

Current tenants are on modified gross leases, with options, annual rent increases and a responsibility to contribute towards real estate taxes over a base year.

About Lynbrook, NY

Lynbrook is a village located in Nassau County, Long Island, New York. The village is part of the Town of Hempstead.

The village has more than 40 restaurants, many stores, a movie theater, several hotels, and three assisted living homes. A library as well as several houses of worship are located throughout the area. Local government funding for the local library system in fiscal years 2001-2002 was above the national average. It has also several small parks and one large park; the Greis Park, the famous park of the entire area which has a pool, recreation center and roller hockey rink. There are lots of recreational activities to happen in the village such as Lynbrook Little League, Lynbrook-East Rockaway Soccer, Lynbrook Titans Lacrosse, Lynbrook Flag Football, Lynbrook Roller Hockey, Girls Softball, and Adult Softball.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
Ron@aiprops.com
(O) 516.393.2300 x202
(F) 516.390.5780

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