1023 Pulaski Rd 2,688 SF 100% Leased Office Building East Northport, NY 11731 $795,000 ($295.76/SF) 11.41% Cap Rate

This 2,688 square foot commercial building, with a full partially finished basement, is being sold as an investment property only. ADA compliant with rear exterior ramp, one gas hot air boiler, 4 separate electric meters with 2 CAC compressors, and 15 parking spaces. There are 3 Tenants with lease options extending out to 2,038. Tenants pay their own electric for their suite. Landlord pays annually for landscaping: $2,400, insurance: $4,815, cleaning of common area: $1,200 and 10.5% of property taxes-common area PSEG-gas & hot water (1 boiler)-snow removal-water-cesspool pumping & maintenance- annual fire inspection fee-RPZ backflow inspection fee- and parking lot sealing & striping maintenance, and 60% of garbage dumpster.
Annual Tenant Income is $101,023 - Landlord Annual Expenses are $10,352. NOI: $90,671
All expense amounts provided are estimates only and may vary based on actual costs incurred.
Tenant #1 is a Dentist with 935 square feet: current rent is $2,532/month & $30,384/year plus annual expenses: 40% of gas & hot water: $1,195, 40% of PSEG common area: $2,184, 40% of tax bill: $5,796, 40% of water: $120, 40% of snow removal: $520, 40% of garbage: $922 and 40% of annual RPZ backflow device inspection charge: unknown amount, 40% of cesspool pumping & maintenance: unknown amount, 100% of annual fire inspection fee & fire extinguisher: unknown amount. Total 2025 rent is: $41,121/yr -$3,427/month. Current lease term is 1/1/2023 to 12/31/2032 with a 5-year option ending 12/31/2037.
Tenant #2 is Long Island Stuttering & Speech Pathology Center with 935 square feet: current rent is $3,004/month & $36,048/year plus annual expenses: 37.5% of gas & hot water: $1,121, 37.5% of PSEG common area: $2,048, 37.5% of tax bill: $5,433, 37.5% of water: $42, 37.5% of snow removal: $488, 37.5% of annual RPZ backflow device inspection charge: unknown amount, 37.5% of cesspool pumping & maintenance: unknown amount, & 37.5% of annual fire inspection fee & fire extinguishers: unknown amount. Total 2025 rent is: $45,180/yr -$3,765/month. Current lease term is 6/1/2022 to 5/31/2031.
Tenant #3 is Social Worker with 364 square feet: current rent is $981.45/month & $11,777/year plus annual expenses: 12% of gas & hot water: $359, 12% of PSEG common area: $655, 12% of tax bill: $1,739, 12% of water: $36, 12% of snow removal: $156, 12% of annual RPZ backflow device inspection charge: unknown amount, 12% of cesspool pumping & maintenance: unknown amount, & 12% of annual fire inspection fee & fire extinguishers: unknown amount & 12% of parking lot sealine striping maintenance. Total 2025 rent is: $14,722/yr -$1,227/month. Current lease term is 1/1/2026 to 12/31/2028 with a 3-year option ending 12/31/2031
The building is located on the northwest corner of Pulaski Road and Irving Johnson Street in the Hamlet of East Northport. The parcel has 10,890 sf/.25 acre and is rectangular in shape with 108+feet of frontage along Pulaski Road and 127+feet of frontage along Irving Johnson Street.
Dentist has 936 SF, Speech Pathologist has 936 SF and Social Worker has 364 SF with a common hallway with 452 SF. Individual electric meters for each tenant and individual HVAC systems for each tenant and 1 meter for gas hot air heat.