40 Rocklyn AveLynbrook, NY 11563

Property Details for 40 Rocklyn Ave

Year built

1955

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.38 AC

Property size (Sq ft)

27,869 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

38-096-00-0007

APU

38096000007

Description

This exceptional retail property at 40 Rocklyn Avenue in Lynbrook, NY, presents a lucrative investment opportunity. The 28,000 square foot building sits on approximately two acres of land and boasts a newly renovated interior. Currently, the property generates substantial income from two strong tenants: All American Gymnastics and Steps to Succeed (a child care center). All American Gymnastics contributes approximately $420,000 annually in lease payments, while Steps to Succeed contributes approximately $360,000 annually, resulting in a total annual income of approximately $770,000. Estimated annual expenses include approximately $125,000 for taxes and $18,000 for insurance, yielding a Net Operating Income (NOI) of approximately $627,000. The property is offered at an asking price of $8,950,000 and features a remaining lease term of 9 years, providing long-term stability and predictable cash flow. Located in Nassau County, NY, with a zip code of 11563, this property offers excellent visibility and accessibility in a thriving Lynbrook community. This is a rare opportunity to acquire a high-performing retail investment with strong tenants and a significant NOI. The property's size, location, and current occupancy make it an ideal addition to any investment portfolio. Serious inquiries only.

• CAP approach

  CAP return

  Valuation

  6%

  $5,713,397

  6.5%

  $5,273,905

  7%

  $4,897,198

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,644,114

  Geo Method

  $5,644,114

• Alternative Use

  Use

  Valuation

  Residential

  $5,273,905

  Hospitality

  $4,830,868

  Educational

  $4,019,226

  Medical

  $4,157,453

  Retail

  $6,252,129

Location Insight

City

Lynbrook

County

Nassau

State

New York

Latitude

40.6577

Longitude

-73.6593

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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