2-10 Merrick Ave 12 Unit Apartment Building $5,000,000 ($416,667/Unit) 6.35% Cap Rate Merrick, NY 11566



EXECUTIVE SUMMARY
Ron Kleinberg of Tri-State Properties has been retained as the Exclusive selling broker to represent RJ Merrick LLC in the disposition of the retail/apartments, priced at $5,290,000. The three-story building, adjacent to the Merrick Train Station, is located at 2-12 Merrick Ave & 2 Nagel Court in Merrick, NY.
This low-rise, mixed use walk-up building constructed in the 1920s, consists of 12 apartments (free market) and 9 commercial tenants. Currently, the building is 100% occupied with a mixture of local retail and office tenants on the first floor. The owner spent approximately $250,000 on renovations in early 2021-2022, updating the facade, as well as resurfacing the parking/striping, painting & roof repairs.
The building is situated on 0.61 acres and has a dedicated 30-car parking lot in the back (+ street parking).
If you are interested in pursuing this opportunity, I would be pleased to send you the pro-forma.
Property tours will be available by appointment only.
Please contact Tri-State Properties, Exclusive Broker to schedule inspections.
Ron Kleinberg
Cell: 516-818-5626
Email: rkleinberg@tri-stateproperties.net
www.tristatepropertybrokers.com
This low-rise, mixed use walk-up building constructed in the 1920s, consists of 12 apartments (free market) and 9 commercial tenants. Currently, the building is 100% occupied with a mixture of local retail and office tenants on the first floor. The owner spent approximately $250,000 on renovations in early 2021-2022, updating the facade, as well as resurfacing the parking/striping, painting & roof repairs.
The building is situated on 0.61 acres and has a dedicated 30-car parking lot in the back (+ street parking).
If you are interested in pursuing this opportunity, I would be pleased to send you the pro-forma.
Property tours will be available by appointment only.
Please contact Tri-State Properties, Exclusive Broker to schedule inspections.
Ron Kleinberg
Cell: 516-818-5626
Email: rkleinberg@tri-stateproperties.net
www.tristatepropertybrokers.com
PROPERTY FACTS
Price | $5,000,000 |
Price Per Unit | $416,667 |
Sale Type | Investment |
Cap Rate | 6.35% |
No. Units | 12 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low-Rise |
Building Class | C |
Lot Size | 0.61 AC |
Building Size | 25,578 SF |
No. Stories | 3 |
Year Built | 1929 |
Parking Ratio | 1.17/1,000 SF |
AMENITIES
UNIT AMENITIES
- Microwave
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Tenant Controlled HVAC
- Smoke Free
- Walk-Up
- Smoke Detector
Walk Score®
Very Walkable (88)
PROPERTY TAXES
Parcel Number | 2089-56-170-00-0080-0 | Improvements Assessment | $13,790 |
Land Assessment | $4,115 | Total Assessment | $17,905 |