Retail Building in Freeport, NY

197-199 N MAIN ST, FREEPORT, NEW YORK 11520

Executive Summary:

Price:	$549,000
Building Size:	2,400 SF
Property Type:	Retail
Lot Size:	0.06 Acres
Year Built:	1922
Projected Cap Rate:	6.70%
Projected NOI:	$36,804
Location:	197-199 N Main St, Freeport, NY 11520

Investment Highlights

50% Occupied Retail Building in Freeport, NY
Vacancy Provides for a Great Lease-Up Opportunity
Restaurant Just Recently Signed a New 5-Year Lease
Located in Close Proximity to Sunrise Hwy and the Freeport LIRR Train Station
Surrounded by Other Neighborhood Retail & Amenities

Investment Summary

American Investment Properties is retained to sell the property located at 197-199 N Main St, Freeport. At this location is a 50% occupied retail building with a restaurant as one of the current tenants. The restaurant just recently signed a new 5-year lease. The vacancy provides for a great lease-up opportunity. This property is located in close proximity to Sunrise Hwy and the Freeport LIRR train station.

About Freeport, NY

Freeport is a village in the Town of Hempstead located in the southwestern section of Nassau County, Long Island, New York.

The incorporated village has its own Police Station, Fire Station, Electric and Water Departments. Freeport’s government is made up of four Trustees and a Mayor. When it comes to shopping, Freeport is one of the few villages to hold a sizable open market area, known as the Freeport Mall. Many local businesses objected when the mall area became neglected. The Nautical Mile is famous for its restaurants with live music. The promenade-style sidewalk lined with antique-style light posts, potted plants and benches are a plus which encourage people to visit the area.