Retail Strip in Massapequa, NY

836-840 N BROADWAY, MASSAPEQUA, NEW YORK 11758

Executive Summary:

Price:	$1,299,000
Building Size:	4,696 SF
Property Type:	Retail
Lot Size:	0.23 Acres
Year Built:	1963
Cap Rate:	5.60%
NOI:	$72,724
Location:	836-840 N Broadway, Massapequa, NY 11976

Investment Highlights

Fully-Occupied Retail Strip in Massapequa, NY
Tenants Have 3% Increases in Rent
Tenants are Currently Paying Under Market Rents
On-Site Parking in the Rear of the Building
High Traffic Counts: 21,871 Cars Per Day
Surrounded by Various Neighborhood Retail & Amenities
Close Proximity to Several Ways of Transportation such as Sunrise Hwy, the Southern State Pkwy, Bethpage State Pkwy, the Seaford Oyster Bay Expy, the Massapequa LIRR Train Station, and the n55 Bus Line

Investment Summary

American Investment Properties is retained to sell the building located at 836-840 N Broadway, Massapequa. At this location is a fully occupied retail strip with 6 tenants. The tenants have 3% annual increases in rent and are currently paying below-market rents. There is on-site parking located behind the building and this property is surrounded by various neighborhood retail and amenities.

About Massapequa, NY

Massapequa is a hamlet and census-designated place located in Nassau County, on the South Shore of Long Island, New York. It is within the Town of Oyster Bay. The former and merged names include South Oyster Bay but were changed when the Long Island Railroad placed the sign contradicting the original name. Notable residents living in Massapequa include the Baldwin brothers — Alec, Daniel, Stephen and William (actors), Gary Baldinger (former football player), Anthony Pappalardo (Pro Skateboarder), Steve Labriola (town clerk), and Jerry Seinfeld (comedian).