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120 W Park Ave 34,270 SF 100% Leased Office Building Long Beach, NY 11561 $4,900,000 ($142.98/SF) 7.88% Cap Rate



Executive Summary
Originally constructed in 1962 and modernized in 2018, the building is designed for flexible multi-tenant occupancy. The property combines modern aesthetics with superior functionality, providing a strong foundation for a range of professional uses, including office, medical, wellness, and boutique service operations. More than 50% of the building is occupied by a well established Co-working/shared space operator. The Ground floor retail tenant is occupied by F45 fitness chain, which operates in over 67 countries. Some of the remaining tenants are currently paying below market rents, representing significant upside potential.
With its location across from the train station and within walking distance of retail, dining, and oceanfront leisure, the property appeals to a wide range of tenants seeking convenience and lifestyle integration. This asset represents both a secure long-term investment and an opportunity for value-add growth in a dynamic market.
Investment Highlights:
Tenancy - Stable tenancy with below market rents representing significant upside, in addition to a well-run Co-work space
Prime Location – Situated directly across from the Long Island Rail Road (LIRR) station, offering immediate commuter access to Manhattan and the greater Long Island region. Just two blocks from the Atlantic Ocean, Long Beach Boardwalk, and beachfront amenities, enhances tenant lifestyle appeal.
Modern Renovations – Recent upgrades include new storefront windows, refreshed exterior, and updated building systems, presenting a turn-key investment.
Flexible Tenancy – Configurable layouts accommodate multi-tenant or full-floor occupancy. Suites are adaptable for office, therapy, medical, or spa-style use.
On-Site Parking – Rare for Long Beach, the property features 18 on-site spaces, supplemented by abundant municipal and street parking nearby.
Unique Amenity – A rooftop common area and meeting space, the only outdoor workspace of its kind in Long Beach, enhancing tenant experience and marketability.
Walkable Urban Environment – Exceptional Walk Score of 89, with Starbucks, CVS, Stop & Shop, banks, restaurants, and retail all within steps. The property is just blocks from the iconic beach and boardwalk.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Fitness Center
- Security System
- Central Heating
- Air Conditioning
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease End
Local residential and commercial real estate firm based in Clearwater, FL since 2006.
A local chiropractor based in New York.
Dr. Glen Shanock is the only Pediatric Dentist in Long Beach who uses the most advanced technology in Dentistry. Dr. Adam Cohen is an Orthodontist for children & adults also at the practice. Part of providing the best care possible is making sure that you feel comfortable and accommodated to during every visit. With three dentists on staff and a team of employees dedicated to making you feel informed and relaxed during your visits, your perspective on dentistry is quite likely to change for the better. They’re sure that you’ll love the highly personalized, modern dentistry that Dr. Glen’s Happy Teeth has to offer!
F45 Training began in 2011 in Sydney, Australia, created by Rob Deutsch and Adam Gilchrist. The company brought its 45-minute functional fitness classes to the United States in 2015. The workouts combine cardio, strength, and resistance training in a group setting. Texas became a key market with numerous franchise locations across cities like Austin, Houston, and Dallas. F45 emphasizes varied daily workouts using its proprietary training system.
As a member of the construction community, it is their belief that their solid reputation is anchored on a foundation of client satisfaction. This reputation has been welded together through many years in the industry, not only as an architect, but as someone who has come up through the ranks. GWB ARCHITECT P.C. is a small company with hands on experience and a shirt sleeve mentality. Each project is given specialized attention by him and his staff. All design drawings are performed on state of the art computers utilizing Autocad Software. The benefits of generating drawings on computer are immeasurable, and ultimately provide a better project for cheaper. It also leaves them with the ability to answer any questions you might have about your project quicker and more accurately than traditional methods.
Hometown Atlantic Insurance Agency was founded on August 30, 1999 in an extra bedroom in Tracey’s apartment. During the agency’s almost 20 years in operation, it has grown steadily; that’s because our staff is dedicated to crafting policies that fit each individual clients’ needs at the most affordable price possible, all while providing friendly customer service. We remained available to our clients in the wake of Hurricane Sandy, providing advice and guidance about whatever claims, coverage, or FEMA requirement information was needed. We continue to maintain this high level of dedication to our clients - we provide free insurance consultations, shop our existing clients around periodically and always keep our clients’ best interests at heart.
A local insurance adjuster based in New York.
Their company has been involved in the Real Estate Development, Leasing and Sales of Shopping Centers, Condominiums, Free Standing Buildings and Constructing One Family Homes. Their current primary focus is in the Leasing and Redevelopment of Retail Sites. They also can provide Property Management, Construction Management Services as well as Retail Leasing Representation.
| Tenant | Industry | SF Occupied | Rent/SF | Lease End | ||
|
Real Estate | - | - | - | ||
| Cirina M. Gervasi, DC | Health Care and Social Assistance | - | - | - | ||
|
Health Care and Social Assistance | - | - | - | ||
|
Arts, Entertainment, and Recreation | - | - | - | ||
|
Professional, Scientific, and Technical Services | - | - | - | ||
|
Finance and Insurance | - | - | - | ||
| Jeffrey Osofs Adjuster | Finance and Insurance | - | - | - | ||
| Turnberry Realty Corp. | Real Estate | - | - | - |
Property Taxes
| Parcel Number | 1000-59-071-00-0026-0 | Improvements Assessment | $20,717 |
| Land Assessment | $2,890 | Total Assessment | $23,607 |
Property Taxes
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120 W Park Ave
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