Project Description

For Sale: Retail Strip in North Merrick, NY

1385-1401 Jerusalem Ave, North Merrick, NY 11566

Executive Summary:

Price: $2,199,000
Building Size: 9,000 SF
Property Type: Retail Storefront
Lot Size: 26,415 SF
Year Built: 1988
Cap Rate: 6.61%
NOI: $145,301
Location: 1385-1401 Jerusalem Ave, North Merrick, NY 11566

Investment Summary

  • Tenants Reimburse for R.E. Taxes, Water, & Fully Pay Other Expenses
  • Tenants Have Annual Rent Increases & Options
  • Features Parking Lot In The Rear & Street Parking
  • Right Next to the Two Major Highways & Two Major Bus Lines

Investment Details

American Investment Properties is retained to sell 1385-1401Jerusalem Ave in North Merrick, New York. At this location you’ll find a retail strip building. This is a great investment opportunity for savvy investors.

The tenants at this location reimburse a portion of real estate taxes, water expense, and are responsible for other expenses such as garbage, snow removal etc. They have 3% annual rent increases and options to extend their lease.

In addition to the robust tenants, this location is convenient for commuters. It features a rear parking lot and street parking. Drivers can use the Southern State and Meadowbrook State Parkway to easily access the area. For public transportation, the N54 and N55 bus lines stop right in front of the building.

About North Merrick

North Merrick is a community and census-designated place located in Nassau County, on the South Shore of Long Island, New York. It has a total area of 1.8 square miles of which, 1.8 square miles of it is land and 0.56% is water.

The neighborhood is served by the North Merrick Union Free School District which has a component of a supervisory union sharing a superintendent and administrative services with other local school districts. The district focuses more in developing academic programs conversant with technology, but also giving their students the opportunity of better learning.

There are several house of worships can be found in North Merrick such as Sacred Heart Roman Catholic Church and Congregation Ohav Sholom. The Sacred Heart Church has a number of parish organizations and a host of ministries.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
Ron@aiprops.com
(O) 516.393.2300 x202
(F) 516.390.5780

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