15 Berry Hill RdOyster Bay, NY 11771

Property Details for 15 Berry Hill Rd

Year built

1929

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.41 AC

Property size (Sq ft)

840 SF

Property type

Strip malls

Property subtype

Neighborhood centers

APN

27-023-00-0105

APU

27023000105

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $204,149

  6.5%

  $188,446

  7%

  $174,985

• Comparable approach

  Method

  Valuation

  Relative Method

  $276,581

  Geo Method

  $276,581

• Alternative Use

  Use

  Valuation

  Residential

  $158,961

  Hospitality

  $145,607

  Educational

  $121,144

  Medical

  $125,310

  Retail

  $188,446

Location Insight

City

Oyster Bay

County

Nassau

State

New York

Latitude

40.8655

Longitude

-73.5315

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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