Lease ($12-$15/ft) with option to purchase.
This property is located 2 blocks North of Southern State Parkway is for rent or for sale.
This building sits at the corner of Allen Blvd and Rt. 110, with traffic light at the front of the building, easy accessible for traffic coming from either South or North.
Traffic count 65,584 cars per day
Building size 49,200 sq ft,
Can be sub-divided into, 19200, and 30000 sq ft
Large thermo pane tempered glass show windows throughout.
Lot Size 274.9’ (on Rt. 110) x 449.26’ depth (2.84 acres)
Parking 190+/-
Population (3 miles) 143,759
Average household $76,242
Property Tax $120,000.00
Asking price Large lot (2.45 acres) with 49200 retail building = US$8,000,000.00. Small lot (170.6x100 = 17060 sq ft) = US$1,000,000.00. Both lots = $8,800,000.00.
Area national tenants – Stew Leonard's Bed Bath & Beyond, BJ’s, Borders, Burger King, Bio-tech center, CHILI’S RESTAURANT, Cosco, Dunkin Donuts, Farmingdale University, Hilton Hotel, Home Depot, Houlihan's Restaurant, La Fitness, Lowe’s, Lexus Dealer, Marriott Residence Inn, Model’s, Multiplex theaters, Panera Bread, Republic Airport, Sleepies, Staples, Starbuck’s, Target, Walgreen, Wal-Mart.
All current tenants are on short term lease, except the cell phone tower (40’x40’) at the North West corner of the property. Their lease ends in August 2040 and the current rent (triple net) is $3979.95 per month with annual escalation of 5% per year (total rental income till August 2040 comes to $1,838,984.35). Should you require additional information, please contact me by email or by phone 516-984-5622.
Ken Cheng
