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Owner / User 6.6% Cap on actual + vacancy

$1,295,000

6300 Northern Boulevard, East Norwich, NY 11732

Active
Last Updated: 01/30/2023

6.6

Cap Rate

85,443.59

NOI

Details:
Cap Rate:    6.6%
NOI:    $85,443.59
Building Size:    3,447 sqft
Lot Area:    0.32 sqft
Occupancy:    80%
Units:    5
Lease Type:    Modified Gross
Year Built:    1935
Zoning:    Neighborhood Business / R 1-7
Tenancy:    Multiple
Floors:    2
Parking Spots:    19
Year Last Renovated:    2019
Gross Leaseable Area:    3,447
Highlights:
  • - Located among some of the wealthiest areas on the North Shore of Long Island.
  • - Not Not many competing commercial properties in the area which leads to high tenant demand for space.
  • - 5.5:1,000 square feet parking ratio
  • - Plenty of room for upside with a more hands on management approach.
  • - Average Household income of $211,154 in a 1 Mile radius.
Description:

6300-6304 Northern Boulevard (Route 25A) is an attractive pair of mixed-use
buildings totaling +/- 3,350 square feet. The buildings were constructed
in 1935 and have been renovated multiple times since. The property fronts a
prime stretch of Northern Boulevard in a very upscale area.

The property is located in Nassau County, just West of the Nassau / Suffolk
border. It fronts on Route 25A, which is the busiest East / West Road on the
North Shore of Long Island. The location is among some of the wealthiest
communities on the North Shore. Many of the neighboring businesses cater
to the exclusive communities that reside in the immediate area. The land is
prime for redevelopment. Only two major shopping centers exist in the
immediate vicinity.

Over 574,000 people are located within a 5-mile radius of the site. The
surrounding area has Average Household incomes of $211,154. Over 15,000
cars pass the site daily.

Map:
Location
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