1504 Sunrise HwyBay Shore, NY 11706
- Investment properties
- 0.32 AC
Property Details for 1504 Sunrise Hwy
- Lot size
- 0.32 AC
- Zone code
- BD
- Property type
- Investment properties
- Property subtype
- Retail residential properties
- APN
- 0500-341.00-02.00-019.000
- APU
- 500341000200019000
Description
This exceptional investment opportunity presents three retail buildings totaling 1,060 to 3,615 square feet, situated on a 0.46-acre lot in Bay Shore, New York. Located at 1504-1516 Sunrise Highway, this portfolio boasts over 200 feet of high-visibility frontage along the South Service Road, offering unparalleled exposure to the significant daily traffic exceeding 90,000 vehicles. The property benefits from a grandfathered, two-story marquee sign visible from all sides of the highway, enhancing its marketing potential. The buildings are zoned BD (Business District) and include 22 parking spaces. Currently occupied by tenants, this presents a value-add opportunity for investors to renegotiate lease terms or an ideal option for an end-user seeking a prime location. The property's strategic location is diagonal from the South Shore Mall, surrounded by established national retailers and local businesses, ensuring a thriving commercial environment. This is a rare chance to acquire a well-positioned retail portfolio with significant upside potential. The buildings are two stories, and the price per square foot is $34. This property offers a multitude of possibilities for the discerning investor or end-user.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $2,845,380
- 6.5%
- $2,626,510
- 7%
- $2,438,900
-
Comparable approach
- Method
- Valuation
- Relative Method
- $1,857,700
- Geo Method
- $1,857,700
-
Alternative Use
- Use
- Valuation
- Industrial / Distribution
- $5,089,090
- Retail / Commercial
- $2,624,320
- Hospitality / Lodging
- $1,942,020
- Office
- $2,622,930
- Institutional / Educational
- $2,734,640
- Residential Income
- $3,199,520
- Multifamily
- $3,773,320
- Automotive / Energy
- $2,343,970
- Parking / Income-Based Land
- $797,468
- Restaurant / Food Service
- $1,390,710
- Healthcare / Senior Housing
- $2,681,590
Location Insight
- City
- Bay Shore
- County
- Suffolk
- State
- New York
- Latitude
- 40.7346
- Longitude
- -73.2513
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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