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1061 N Broadway
Massapequa, NY 11758
Office Property For Sale
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 7.82 Cap 12,750 Sqft. Corner Office Building With Private Parking Lot For Sale!!!
- The Property Is Located In Massapequa On N. Broadway Just 5 Blocks From The Southern State Pkwy.!!!
- This Property Has A Daily Traffic Count Of 23,000+ Vehicles Per Day!!!
- The Building Features Excellent Signage, Great Exposure, R1-7 Zoning, 26 Parking Spaces, Private Parking Lot, High 10’ Ceilings, Elevator, +++!!!
- Neighbors Include Starbucks, Verizon, UPS, Stop & Shop, CVS, Walgreens, Roslyn Savings Bank, 7-Eleven, Dunkin’, Friendly’s, Lukoil, McDonald’s, +++!!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 7.82 Cap 12,750 Sqft. Corner Office Building With Private Parking Lot For Sale!!! The Building Features Excellent Signage, Great Exposure, R1-7 (465.14) Zoning, 26 Parking Spaces, Private Parking Lot, High 10’ Ceilings, Elevator, Ramp, Accessible Bathrooms, All New LED Lighting, Sprinklers, 3 Phase Power, CAC, +++!!! The Property Is Located In Massapequa On N. Broadway Just 5 Blocks From The Southern State Pkwy.!!! Neighbors Include Starbucks, Verizon, UPS, Stop & Shop, CVS, Walgreens, Roslyn Savings Bank, 7-Eleven, Dunkin’, Friendly’s, Lukoil, McDonald’s, Ralph’s Famous Italian Ices, Domino’s, Burger King, Lidl, +++!!! This Property Has A Daily Traffic Count Of 23,000+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
New York Health (Whole 2nd Fl. + 800 Sqft. 1st Fl. + 3,000 Sqft. LL): $283,018.44 Ann. 3% Ann. Inc.; Lease Exp.: 12/31/28. (1) 5 Year Option With 3% Ann. Inc. Pays 84.76% Of Tax Increase Above 2024 Base Tax.
Gynecologist (1,900 Sqft.): $76,565.76 Ann. 3% Ann Inc.; Lease Exp.: 12/31/27. Been Here 13 Years So Far. Pays 15.24% Of Tax Increase Above 2025 Base Tax.
Total Gross Income: $359,584.20 Ann.
Expenses:
Electric: $0 Ann.
Gas: $0 Ann.
Insurance: $6,826 Ann.
Maintenance & Repairs: $2,825 Ann.
Garbage: $600 Ann.
Snow Removal: $850 Ann.
Taxes: $86,424.97 Ann.
Total Expenses: $97,525.97 Ann.
Net Operating Income (NOI): $262,058.23 Ann. (7.82 Cap!!!)
Income:
New York Health (Whole 2nd Fl. + 800 Sqft. 1st Fl. + 3,000 Sqft. LL): $283,018.44 Ann. 3% Ann. Inc.; Lease Exp.: 12/31/28. (1) 5 Year Option With 3% Ann. Inc. Pays 84.76% Of Tax Increase Above 2024 Base Tax.
Gynecologist (1,900 Sqft.): $76,565.76 Ann. 3% Ann Inc.; Lease Exp.: 12/31/27. Been Here 13 Years So Far. Pays 15.24% Of Tax Increase Above 2025 Base Tax.
Total Gross Income: $359,584.20 Ann.
Expenses:
Electric: $0 Ann.
Gas: $0 Ann.
Insurance: $6,826 Ann.
Maintenance & Repairs: $2,825 Ann.
Garbage: $600 Ann.
Snow Removal: $850 Ann.
Taxes: $86,424.97 Ann.
Total Expenses: $97,525.97 Ann.
Net Operating Income (NOI): $262,058.23 Ann. (7.82 Cap!!!)
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
12,750 SF
Building Class
B
Year Built
1969
Price
$3,350,000
Price Per SF
$262.75
Cap Rate
7.82%
NOI
$262,058
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,375 SF
Slab To Slab
10’
Building FAR
1.28
Lot Size
0.23 AC
Zoning
R1-7 (465.14)
Parking
26 Spaces (2.04 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Security System
- Signage
- Wheelchair Accessible
- Reception
- Storage Space
- Air Conditioning
- Smoke Detector
Property Taxes
| Parcel Number | 2489-52-527-00-0235-0 | Improvements Assessment | $10,262 |
| Land Assessment | $1,524 | Total Assessment | $11,786 |
Property Taxes
Parcel Number
2489-52-527-00-0235-0
Land Assessment
$1,524
Improvements Assessment
$10,262
Total Assessment
$11,786
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