227 Albany AveAmityville, NY 11701

Property Details for 227 Albany Ave

Year built

1952

Property size (Sq ft)

4,021 SF

Property type

Mixed-use properties

Description

This exceptional 4,021 square foot mixed-use property in Amityville, NY, presents a compelling investment opportunity. Located just off Sunrise Highway, this seven-unit building boasts prime visibility and excellent signage opportunities. The property includes 23 parking spaces, high ceilings, strategically placed curb cuts, air conditioning, and all-new LED lighting. Each unit is equipped with 200-amp power. The building's advantageous location places it amongst a vibrant mix of national retailers and businesses, including Starbucks, Mercedes-Benz, Target, Home Depot, and many more, ensuring high foot traffic and strong tenant demand. Currently configured with a real estate office, a deli, and five additional units (three offices and two apartments), the property offers a pro forma gross annual income of $146,400 and a net operating income (NOI) of $120,678, representing an 11.09% capitalization rate. Annual expenses total $25,722, encompassing insurance and taxes. All units are currently available, allowing for immediate occupancy or redevelopment to suit your vision. This property is ideal for investors seeking strong returns or developers looking to capitalize on its significant upside potential. The property can be delivered vacant if needed.

Location Insight

City

Amityville

County

Suffolk County

State

New York

Latitude

40.6888

Longitude

-73.413

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