For Sale
$8,886,580

40 Rocklyn AveLynbrook, NY 11563

High-yield, stabilized childcare center.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional investment opportunity presents a fully occupied, two-unit children's center located at 40 Rocklyn Ave, Lynbrook, NY 11563. The property boasts 28,000 square feet on a 2-acre lot, providing ample parking. The building, constructed in 1957 and extensively renovated in 2019, is currently 100% occupied by Steps to Success Day Care and All American Gymnastics, both credit-rated, multi-location operators with corporate guarantees. These tenants signed 15-year NNN leases commencing October 2, 2021, with 10 years remaining and two 5-year options. The leases include annual rent increases of 3%, ensuring consistent income growth. The property generates a substantial NOI of $688,710, resulting in a compelling 7.75% cap rate at an asking price of $8,886,580 ($317.38/sq ft). This represents a rare opportunity to acquire a stabilized, high-performing asset in a desirable location with significant long-term growth potential. The property's strong tenant base, substantial remaining lease term, and built-in rent escalations provide exceptional stability and predictable returns. The extensive renovations completed in 2019 ensure the property remains modern and attractive to tenants, further enhancing its value and longevity. This is a turnkey investment ready to generate immediate cash flow.

Highlights

  • Long-term NNN leases with 10 years remaining, plus 2(5) year options.
  • Annual 3% rent increases.
  • 100% occupancy with two credit-rated, corporate-guaranteed tenants: Steps to Success and All American Gymnastics.
  • Significant tenant improvements, enhancing value and retention.
  • 2-acre lot with ample parking in Lynbrook, NY.
  • Fully renovated in 2019.

Property Details for 40 Rocklyn Ave

Property type
Day care centers & nurseries, Retail properties
Square Feet
28,000 SF
Year Built/Renovated
1957/2019
Lot Size (sq. ft)
87,120 SF
Units
2

Location Insight

City
Lynbrook
County
Nassau
State
New York
Latitude
40.657857342655
Longitude
-73.659763811129
40 Rocklyn Ave, Lynbrook, New York

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40 Rocklyn Ave
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