For Sale: Office Building in Glen Cove, NY

37-39 Glen St, Glen Cove, NY 11542

Executive Summary:

Price:	$3,050,000
Building Size:	13,583 SF
Property Type:	Office
Lot Size:	0.23 Acres
Year Built:	1930
Cap Rate:	6.97%
NOI:	$212,628
Location:	37-39 Glen St Glen Cove, NY 11542

Investment Highlights

10-Unit Office Building – 93% Leased
Majority of Tenants Are Month-Month
Value-Add Opportunity: More Rental Income & Increase Value
Tenants Contribute Toward Real Estate Taxes
Tenants are Separately Metered for Gas and Electric
7 On-site Parking Spaces Behind Building
Located Near National Credit Retail Tenants
Near Panera Bread, Starbucks, Dunkin’ Donuts, Citi Bank, etc.
Close to Train Stations & Buses & Two Public Parking Lots
In The Heart of Revitalized Downtown Glen Cove
1 Mile From Garvies Point & The Beacon Multi-Family Complex
Located in an Opportunity Zone

Investment Summary

American Investment Properties is retained to sell the property at 37-39 Glen St, Glen Cove, NY. At this location is a 10-unit office building that is 93% leased, and the majority of tenants are month-to-month. This is a value add opportunity for more rental income and increase property value.

The property is surrounded by many national credit retail tenants. It is close to two train stations and two bus lines. The property provides on-site parking with 7 spaces. Additionally, there are two public parking lots located in close proximity to the building.

About Glen Cove, NY

Glen Cove is a city located in Nassau County, on the North Shore of Long Island, New York. It is surrounded by the Town of Oyster Bay. The city has over ten miles of waterfront including: three public beaches, two nature preserves, a public golf course, and a public park.

The city has also plenty of fine restaurants just like Adirondack Grill, Cafe La Luna, and East Wok. The local Chamber of Commerce has several programs to help boost the business profitability and making Glen Cove one of the best places to do business. With the city rich in history, Glen Cove has many Gold Coast mansions, fabulous beaches, downtown filled with shops, and nature preserves that residents must be proud of.