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$ 1,750,000
Est. payment /mo
Active
120-126 Laurel RD East Northport, NY 11731
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 855833
Rental Info No
Year Built 1986
Annual Tax Amount $20,600
Property Sub-Type Mixed Use
Source onekey2
Property Description
Calling All Investors, Developers & End-Users!!! 8.18 Cap 100% Occupied 7 Unit 6,400 Sqft. Shopping Center Near The Northport LIRR Station For Sale!!! The Building Features Excellent Signage, Great Exposure, 23 Parking Spaces, High 10' Ceilings, Strong C6 Zoning, 2 Levels, All New LED Lighting, 200 Amp, Power, CAC, +++!!! The Property Is Located In The Heart Of East Northport 2 Blocks From The Northport LIRR Station!!! The Property Is Situated Just Minutes From Veteran's Park & The Vanderbilt Museum!!! Neighbors Include UPS, Verizon, Chase Bank, Subaru, The Home Depot, P.C. Richard & Son, Stop & Shop, Public Storage, Extra Space Storage, Orangetheory Fitness, T.J. Maxx, 7-Eleven, Walgreens, Shell, Gold's Gym, Trader Joe's, Sherwin-Williams, Aboff's Paints, Wendy's, Taco Bell, Dairy Queen, +++!!! The Building Has 404 Feet Of Frontage On Busy Laurel Road & Vernon Valley Road!!! This Property Has A Daily Traffic Count Of 16,000+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Unit A: Podcast Studio: $18,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/1/28.
Unit B: Music Studio: $12,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/1/28.
Unit C: Lighting Company: $28,800 Ann.; M-M.
Unit 2A: Lighting Company: $16,800 Ann.; M-M.
Unit 2B: East Coast Capital: $30,000 Ann.; M-M.
Unit 2C: SPA: $24,000 Ann.
Unit 2D: Farmer's Insurance: $20,400 Ann.; 3% Ann. Inc.; Lease Exp.: 8/1/27 + (2) 3 Year Options.
Tax Rebate (Paid By The Tenants): $18,886 Ann.
Landscape Rebate (Paid By The Tenants): $1,500 Ann.
Garbage Rebate (Paid By The Tenants): $2,400 Ann.
Snow Removal Rebate (Paid By The Tenants): $1,000 Ann.
Expenses:
Gas: $0
Electric: $1,440 Ann. (Perimeter Lighting Only)
Maintenance & Repairs: $250 Ann.
Insurance: $3,200 Ann.
Water: $200 Ann.
Garbage: $2,400 Ann.
Snow & Landscape: $2,500 Ann.
Taxes: $20,600 Ann.
Total Expenses: $30,590 Ann.
Current Gross Income: $173,786 Ann.
Net Operating Income (NOI): $143,196 Ann. (8.18% Cap!!!)
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Income:
Unit A: Podcast Studio: $18,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/1/28.
Unit B: Music Studio: $12,000 Ann.; 3% Ann. Inc.; Lease Exp.: 10/1/28.
Unit C: Lighting Company: $28,800 Ann.; M-M.
Unit 2A: Lighting Company: $16,800 Ann.; M-M.
Unit 2B: East Coast Capital: $30,000 Ann.; M-M.
Unit 2C: SPA: $24,000 Ann.
Unit 2D: Farmer's Insurance: $20,400 Ann.; 3% Ann. Inc.; Lease Exp.: 8/1/27 + (2) 3 Year Options.
Tax Rebate (Paid By The Tenants): $18,886 Ann.
Landscape Rebate (Paid By The Tenants): $1,500 Ann.
Garbage Rebate (Paid By The Tenants): $2,400 Ann.
Snow Removal Rebate (Paid By The Tenants): $1,000 Ann.
Expenses:
Gas: $0
Electric: $1,440 Ann. (Perimeter Lighting Only)
Maintenance & Repairs: $250 Ann.
Insurance: $3,200 Ann.
Water: $200 Ann.
Garbage: $2,400 Ann.
Snow & Landscape: $2,500 Ann.
Taxes: $20,600 Ann.
Total Expenses: $30,590 Ann.
Current Gross Income: $173,786 Ann.
Net Operating Income (NOI): $143,196 Ann. (8.18% Cap!!!)
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Location
State NY
County Suffolk County
Interior
Heating Natural Gas
Cooling Central Air
Fireplace No
Exterior
Utilities Available Natural Gas Connected
Total Parking Spaces 23
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • Richard Matt Shane
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