Project Description

For Sale: NNN Payomatic Office Building in Syosset, NY

160 Oak Drive, Syosset, New York 11791

Executive Summary:

Price: $3,900,000
Building Size: 14,888 SF
Property Type: NNN Office
Lot Size: 0.69Acres
Year Built: 1978
Cap Rate: 8.32%
NOI: $324,450
Location:
160 Oak Dr
Syosset, NY 11791

Investment Highlights

  • NNN Pay-O-Matic Corporate Headquarters
  • Tenant Has Been There for Over 15 Years
  • Lease Ends in 2024 – Potential for a Longer Term
  • Two 5-Year Options to Extend
  • 3% Annual Rent Escalations
  • Tenant Responsible for Taxes, Insurance, Common Area, Roof & Structure, HVAC, & Utilities
  • 42 On-Site Parking Spaces

Investment Summary

American Investment Properties is retained to sell the building at 160 Oak Dr in Syosset, NY. At this location is a NNN Pay-O-Matic tenant that has occupied this location for over 15 years. Upon lease expiration, there are (2) 5-Year options to extend.

The property is ideal for industrial or flex conversion. There is 1 drive-in door and many on-site parking spaces. This property is located very close to Jericho Tpke and various other major highways.

About Syosset, NY

Syosset is a hamlet and census-designated place located in Nassau County, within the Town of Oyster Bay, Long Island, New York. The area is just west of Woodbury.

The notable residents and politicians living in such a great place like Syosset are current Nassau County Presiding Officer Judy Jacobs, Hollywood actress Natalie Portman, and NHL player Richard Park. The LIRR in Syosset has implemented physical and operational solutions.

Syosset has a Chamber of Commerce and a highly regarded school district. It serves the inhabitants of the community and also serves the hamlet of Woodbury and parts of Plainview and Jericho. The Syosset Central School District operates ten schools with only one high school, two middle schools, and seven elementary schools such as Walt Whitman, Baylis, Willits, Village, Robbins Lane, Berry Hill, and South Grove. The town is known for their competitive schools and quality education.

Contact Broker

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

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