425 Jerusalem AveUniondale, NY 11553

Property Details for 425 Jerusalem Ave

Year built

1969

Property size (Sq ft)

4,550 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 4,550 square foot retail strip center located at 425 Jerusalem Ave, Uniondale, NY 11553, in Nassau County. The property, built in 1969, boasts five individual retail units currently operating at 100% occupancy under a net lease with a remaining term of 10 years. Generating a strong Net Operating Income (NOI) of $146,340 and an attractive 8.36% cap rate, this property offers a compelling return on investment. The asking price is $1,750,000, translating to $384.62 per square foot. The property features a substantial 100' x 110' parking lot. A significant advantage lies in the existing foundation, allowing for potential expansion by adding more stores or even a second floor. The property's prime Uniondale location ensures high visibility and accessibility. While currently configured as a five-unit retail center, the potential for expansion and increased revenue streams makes this a truly unique and lucrative investment opportunity. The seller may consider selling the building without the church (if applicable). Further development opportunities exist on the ample parking lot, potentially allowing for the construction of additional retail space or even residential units, significantly increasing rental income. This property is a rare find, combining immediate income with substantial future growth potential.

Location Insight

City

Uniondale

County

Nassau

State

New York

Latitude

40.702

Longitude

-73.6017

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