Project Description

For Sale: Office Building in Valley Stream, New York

550 W Merrick Rd, Valley Stream, NY 11580

Executive Summary:

Price: $2,005,015
Building Size: 7,308 SF
Property Type: Office
Lot Size: 0.22 Acres
Year Built: 1968 / 2008
Cap Rate: 6.30%
NOI: $126,316
Location:
550 W Merrick Rd
Valley Stream, NY 11580

Investment Highlights

  • Great Value Add Opportunity & Rental Income Potential
  • Current Tenants Are Paying Below Market Rent For The Area
  • Tenants Are Either Month to Month or Have Leases Expiring Within 6 Months
  • Features On-Site Parking of 16 Space
  • Close Proximity to Other Neighborhood Office Spaces and Many Retail
  • Building Has Elevator Access
  • Right Next to Bus Stops & 1 Mile From Valley Stream L.I.R.R. Station
  • Located on W Merrick Rd Which Has High Traffic Counts of 20,634

Property Summary

American Investment Properties is exclusively retained to sell 550 W Merrick Rd in Valley Stream, New York. This location is 75 percent occupied, with tenants having leases expiring within 6 months or no lease (month to month). This is a great value add opportunity for investors to raise rents to market numbers. There is strong income growth potential.

Renovated in 2008, this building is in a great location. It sits on the signalized intersection of the busy W Merrick Rd and surrounded by neighborhood retail amenities. The bus stop is directly in front of the building, and the Valley Stream Train Station is under a mile away. Lastly, there are 16 on-site parking spaces on the lot.

About Valley Stream, NY

Valley Stream is a village located in Nassau County, Long Island, New York. It is in the southwest part of the Town of Hempstead along the border with Queens. The communities bordering the village are Elmont, Lynbrook, Rockville Centre, Malverne, Franklin Square, Garden City, Rosedale, Hewlett, and Woodmere.

Valley Stream is sub-divided into two parts namely North Valley Stream and South Valley Stream. There are also different sections of Valley Stream such as Parkwold Estates, Valley Stream Woods, Gibson, and Valley Greens. It is served by the Long Island Rail Road at the Valley Station which located at Sunrise Highway and Franklin Avenue.

Contact Broker

Dawn Assael Gingold
Sales Associate

Dawn@aiprops.com
(O) 516.393.2300
(C) 917.696.3630

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

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