Project Description

Just Sold:Street Retail in North Bellmore, NY

1497-1501 Bellmore AveNorth Bellmore, NY 11710

Executive Summary:

Price: $1,150,000
Building Size: 4,296 SF
Property Type: Retail
Lot Size: 10,400 SF
Year Built: 1935
Cap Rate: 5.91%
NOI: $67,917
1497-1507 Bellmore Ave
North Bellmore, NY 11710

Investment Highlights

  • Seller will do seller financing with a small amount down at 5% interest rate.
  • Small stores 500 square feet to one double (Edible Arrangements) store with 950 square feet.
  • Low rents, rents range from $1,000 per store to $1,957 for the Edible Arrangements double store.
  • Tenants are responsible for base year taxes and all utilities.
  • Good on-site and street parking.
  • All tenants have rent increases and upside on lease renewal.
  • All tenants are doing well and plan to stay.
  • Property is maintained very well
  • Has great street frontage 91 feet
  • Busy street near Chase Bank, Dunkin Donuts and others.

Investment Details

American Investment Properties is exclusively retained to sell 1497-1501 Bellmore Ave in North Bellmore, NY. At this location is a 6 unit retail storefront property.

This property features ample on-site parking and street parking for customers.

It’s only minutes from major highways, which allow for easy commuting throughout Long Island. Additionally, this location is just down the street from Bellmore Commons which has a Dunkin’ Donuts and large Italian Food Market which stays busy. A Chase Bank is also within close proximity to the building.

About North Bellmore

North Bellmore is a hamlet and census-designated place located in Nassau County, on the South Shore of Long Island, New York. “The Bellmores” are subdivided into Bellmore and North Bellmore which is also some residents call the area south of Merrick Road (or sometimes Sunrise Highway) ‘South Bellmore’.

The former and merged names of North Bellmore include Smithville. About 61% of adults here are married. A large portion of people in North Bellmore are married. At the risk of over-generalizing, everyone could say that the town tends toward large families and full houses.

Most of its resident’s ancestries were Italian, Irish, German, Polish, and Russian.

Notable North Bellmore residents include Lenny Bruce (progressive comedian), George Kennedy (actor), Fred Travalena (comedian), Kurt Ralske (artist and musician/composer), and Permanent ME (pop punk group).

North Bellmore has its own public library which is operated by the Nassau Library System that includes talking books for people with disabilities. More than 50 libraries subscribe to this common service. The North Bellmore Library is a generous and effective education and learning resource for town residents of all age groups.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
(O) 516.393.2300 x202
(F) 516.390.5780

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