Albany AveAmityville, NY 11701

Property Details for Albany Ave

Lot size

2.13 AC

Property type

Mixed-use properties

Description

This exceptional 2.13-acre mixed-use property in Amityville, NY, presents a compelling investment opportunity. Boasting over 92,930 square feet, the site features eight lots and 184 parking spaces, offering significant development potential. The property enjoys high visibility with over 300 feet of frontage on Albany Avenue, situated near major retailers including Starbucks, Mercedes-Benz, Target, and Home Depot, ensuring high traffic and exposure. Currently generating a pro forma gross annual income of $346,200, with annual expenses totaling $43,619, resulting in a net operating income (NOI) of $302,581 (a 13.83 cap rate). The property includes multiple income-producing buildings: a three-unit mixed-use building (currently vacant), an eight-bedroom house, two legal two-family houses, and a vacant lot, all available vacant upon request. The buildings feature desirable amenities such as high ceilings, new LED lighting, 200-amp power, and air conditioning. This property is ideal for developers seeking a prime location for new construction or investors looking for a strong cash flow opportunity. The strategic location and existing infrastructure provide a solid foundation for future growth and profitability. Don't miss this chance to acquire a significant commercial property in a thriving area.

Location Insight

City

Amityville

County

Suffolk

State

New York

Latitude

40.6818

Longitude

-73.4166

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