For Sale
$2,995,000

15 Berry Hill Rd Oyster Bay, NY 11771

Prime Oyster Bay Shopping Center, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
132
This exceptional multi-tenant shopping center, located at a highly visible four-way signalized intersection in Oyster Bay, NY (15 Berry Hill Rd, 11771), presents a compelling investment opportunity. The 11,210 square foot building, completely renovated in 2005, boasts a beautiful brick facade, slate mansard roof, precast moldings, and a paving stone walkway. The property features 8,350 square feet of first-floor retail space, accommodating four large stores, and 2,020 square feet of second-floor office suites. An additional 840 square feet of lower-level space offers potential for increased income. Ample parking is provided with an 18-car lot. The property enjoys a strong tenant mix, demonstrating resilience to internet-based competition. Financial highlights include an asking price of $2,995,000 ($267 per square foot), a pro-forma NOI of $152,814, and a pro-forma cap rate of 5.10%. Clean environmental reports are available, including confirmation from the on-site green dry cleaner that no environmentally hazardous chemicals are used. The location, at the gateway to Oyster Bay adjacent to the Teddy Roosevelt statue, ensures high visibility and accessibility.

Highlights

  • Prime Oyster Bay location, adjacent to the Teddy Roosevelt statue.
  • Completely renovated in 2005.
  • Strong, recession-resistant tenant base.
  • High-visibility corner location at a major four-way intersection.
  • 18-space parking lot.
  • Attractive price of $267 per square foot.

Property Details for 15 Berry Hill Rd

Property type
Lifestyle centers, Power centers
Square Feet
11,210 SF
Year Renovated
2005

Location Insight

City
Oyster Bay
County
Nassau
State
New York
Latitude
40.8654399
Longitude
-73.531602

FAQs

What type of property is this?
Lifestyle center - Prime Oyster Bay Shopping Center, High NOI
Where is the lifestyle center located?
The property is located at 15 Berry Hill Rd Oyster Bay, NY.
What is the asking price?
The asking price for this property is $2,995,000.
What are key features of this property?
This property features: Prime Oyster Bay location, adjacent to the Teddy Roosevelt statue.; Completely renovated in 2005.; Strong, recession-resistant tenant base.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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15 Berry Hill Rd
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