2 Mixed-Use Buildings in Glen Cove, NY

72-74 CEDAR SWAMP RD, GLEN COVE, NEW YORK 11542

Executive Summary:

Price:	$3,999,000
Building Size:	10,750 SF
Property Type:	Mixed-Use
Lot Size:	0.58 Acres
Year Built:	1980
Cap Rate:	5.54%
NOI:	$221,417
Location:	72-74 Cedar Swamp Rd, Glen Cove, NY 11542

Investment Highlights

For Sale: (2) Mixed-Use Buildings in Glen Cove, NY
Signage on Building & Entrance
Located Between Two Signalized Intersections – Vehicle Counts: 16,773 Per Day
Nearby the Sea Cliff & Glen Street LIRR Stations
Roof on Building 2 is 20 Years Old, In Good Condition
Every Unit Has its Own Meter
Apartments have Baseboard Heating & Central Air Conditioning
Building 2 Has a Full Basement
Nearby Businesses Include: Land Rover Dealership, Volvo Dealership, Jaguar Dealership, Lexus Dealership, & Restaurants

Investment Summary

American Investment Properties is retained to sell the property located at 72-74 Cedar Swamp Rd, in Glen Cove, NY. This mixed-use property contains 7 retail units and 3 residential units. The property, which was renovated in 2010, is in great condition and provides a lot of potential. Located on the busy Cedar Swamp Road between two signalized intersections, the property sees a traffic count of around 16,773 vehicles per day. In addition, there is signage at the entrance. This property is conveniently located between the Sea Cliff and Glen Street LIRR Stations which are both under a minute drive.

About Glen Cove, NY

Glen Cove is a city in Nassau County, on the North Shore of Long Island, New York, United States.

Of Nassau County’s five municipalities, Glen Cove is one of two that are cities, rather than towns – the other being Long Beach.

Glen Cove was considered part of the affluent, early 20th-century Gold Coast of Long Island, as the properties located along the area’s waterfront were initially developed as large country estates by wealthy entrepreneurs and businessmen (such as J.P. Morgan, Phipps, Pratt, and Prybil).

Historically, with the onset of the Industrial Revolution, Glen Cove blossomed in the areas of manufacturing, agriculture and local retail, all of which were operated and staffed by a diverse workforce. The local opportunities—for potential business owners, entrepreneurs, and those seeking employment—attracted numerous immigrants from Europe, largely from Ireland, Italy, and Eastern Europe. Since the 20th century, Glen Cove has also become the home for new waves of immigrants seeking opportunities from Central and South America, as well as parts of Asia.