2012 Sunrise HwyMerrick, NY 11566

Property Details for 2012 Sunrise Hwy

Year built

1965

Lot size

0.23 AC

Property size (Sq ft)

9,000 SF

Property type

Banks

APN

55-130-00-0101

APU

55130000101

Description

This exceptional investment opportunity comprises three Class A medical office buildings in prime Nassau County, NY locations: Merrick, Lynbrook, and Levittown. Each building is strategically situated on major thoroughfares with high traffic counts and surrounded by national retailers, ensuring excellent visibility and accessibility. The properties boast a combined square footage ranging from 6,970 to 12,315 square feet, situated on lots ranging from 0.46 to 1.2 acres. All three buildings are currently under a triple net (NNN) lease with RadNet, a leading provider of medical imaging and radiology services, with nine years remaining on a ten-year lease term, expiring January 30, 2031. The lease includes two five-year renewal options and a 3% annual rent increase. Annual rent totals $1,993,000, providing a stable and predictable income stream. The properties benefit from strong demographics, with a wealthy population and increasing demand for medical imaging services. This portfolio offers a rare opportunity to acquire a diversified, high-yield investment in a thriving Long Island market. The permitted zoning for all properties is Medical. Buildings were constructed in 2013.

• CAP approach

  CAP return

  Valuation

  6%

  $2,187,314

  6.5%

  $2,019,059

  7%

  $1,874,841

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,963,369

  Geo Method

  $2,963,369

• Alternative Use

  Use

  Valuation

  Residential

  $1,703,152

  Hospitality

  $1,560,078

  Educational

  $1,297,967

  Medical

  $1,342,606

  Retail

  $2,019,059

Location Insight

City

Merrick

County

Nassau

State

New York

Latitude

40.6626

Longitude

-73.5521

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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