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120 W Park Ave 17,640 SF 100% Leased Office Building Long Beach, NY 11561 $4,900,000 ($277.78/SF) 7.14% Cap Rate
Investment Highlights
- For Sale: Office Building in Long Beach, NY - Fully-Leased
- 18 On-Site Parking Spaces Plus Surrounding Municipal Parking
- Floor Plans Allow for Multi-Tenant Use - Suites Can be Used for Office, Therapy, Medical, or Spa-Style
- 2 Stories Plus a Lower-Level with Elevator
- Stable Tenants with Below Market Rents
- Located in the Heart of Long Beach - Direct Access to the Long Beach LIRR Train Station
Executive Summary
American Investment Properties is retained to sell the office building located at 120 W Park Ave, Long Beach. At this location is a multi-tenant fully-occupied office building with some on-site parking spaces. This property is located in the heart of Long Beach, surrounded by several other office and retail amenities as well as within walking distance to the Long Beach LIRR train station.
Property Facts
Sale Type
Investment
Property Type
Office
Building Size
17,640 SF
Building Class
C
Year Built/Renovated
1962/2018
Price
$4,900,000
Price Per SF
$277.78
Cap Rate
7.14%
NOI
$349,989
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
6,115 SF
Building FAR
1.76
Lot Size
0.23 AC
Zoning
Business - Business
Parking
18 Spaces (1.02 Spaces per 1,000 SF Leased)
Amenities
- Controlled Access
- Fitness Center
- Security System
- Air Conditioning
- Smoke Detector
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Exceptionally walkable
90/100
Moderately drivable
70/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 1000-59-071-00-0026-0 | Improvements Assessment | $20,717 |
| Land Assessment | $2,890 | Total Assessment | $23,607 |
Property Taxes
Parcel Number
1000-59-071-00-0026-0
Land Assessment
$2,890
Improvements Assessment
$20,717
Total Assessment
$23,607
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120 W Park Ave
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