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

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

  • Listing ID: 35396984

  • Date on Market: 4/7/2025

  • Last Updated:

  • Address: 2-10 Merrick Ave, Merrick, NY 11566