32-38 Atlantic Ave., Lynbrook | 32-38 Atlantic Ave
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32-38 Atlantic Ave., Lynbrook 32-38 Atlantic Ave
9,431 SF 100% Leased Office Building Lynbrook, NY 11563 £1,721,390 (£183/SF)
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 7 Unit 9,400+ Sqft. Retail Building On A 10,850 Sqft. Lot In Lynbrook For Sale!!!
- The Property Is Located In The Heart Of Lynbrook On Busy Atlantic Ave. 1 Block From The Lynbrook LIRR Station & Just 1.5 Blocks From Sunrise Hwy.!!!
- The Deli Can Be Delivered Vacant If Need Be To Accommodate An Owner-User!!!
- The Building Features Excellent Signage, Great Exposure, Strong Zoning, 146 Parking Spaces, High 10’ Ceilings, Skylight, 200 Amp Power, CAC, +++!!!
- Neighbors Include Starbucks, Audi, Acura, Volkswagen, Northwell Health, Bethpage Federal Credit Union, Dunkin’, McDonald’s, Enterprise Rent-A-Car,++!!
- This Property Offers HUGE Upside Potential!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 7 Unit 9,400+ Sqft. Retail Building On A 10,850 Sqft. Lot In Lynbrook For Sale!!! The Building Features Excellent Signage, Great Exposure, Strong Zoning, 146 Parking Spaces, High 10’ Ceilings, Long Term Tenants, All New LED Lighting, Skylight, 200 Amp Power, CAC+++!!! The Property Is Located In The Heart Of Lynbrook On Busy Atlantic Ave. Just 1 Block From The Lynbrook LIRR Station!!! The Property Is Situated In Between Sunrise Highway & Merrick Road!!! Neighbors Include Starbucks, Audi, Acura, Volkswagen, Northwell Health, Bethpage Federal Credit Union, Dunkin’, McDonald’s, Enterprise Rent-A-Car, Stand-Up MRI, Karako Suits, Cold Stone Creamery, Regal Cinemas, White Castle, IHOP, KFC, +++!!! This Property Has A Daily Traffic Count Of 4,900+ Vehicles Per Day!!! The Deli Can Be Delivered Vacant If Need Be To Accommodate An Owner-User!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Deli (3,000 Sqft.): $67,980 Ann.; 3% Ann. Inc.; Lease Exp.: 2026.
Nail Salon (2,000 Sqft.): $44,496 Ann.; 3% Ann. Inc. Lease Exp.: 2026.
Cooking School/Catering Facility (2,000 Sqft.): $32,136 Ann.; 3% Ann. Inc.; Lease Exp.: 2025.
2nd Floor:
Suite 200 (1,500 Sqft.): $36,000 Ann.; M-M.
Suite 201 (500 Sqft.): $12,000 Ann.; M-M.
Suite 202 (Guidance Counselor, 600 Sqft.): $14,400 Ann.; M-M.
Suite 203 (600 Sqft.): $14,400 Ann.; M-M.
Expenses:
Gas: $6,000 Ann. (Heat For The 2nd Floor)
Electric: $6,000 Ann.
Maintenance & Repairs: $5,500 Ann.
Insurance: $12,000 Ann.
Water: $1,000 Ann. (Tenants Pay Their Own Except Common Bathroom On 2nd Floor)
Snow & Landscape: $600 Ann.
Taxes: $69,789 Ann.
Total Expenses: $100,889 Ann.
Gross Income: $221,412 Ann.
Net Operating Income (NOI): $120,523 Ann.
Income:
Deli (3,000 Sqft.): $67,980 Ann.; 3% Ann. Inc.; Lease Exp.: 2026.
Nail Salon (2,000 Sqft.): $44,496 Ann.; 3% Ann. Inc. Lease Exp.: 2026.
Cooking School/Catering Facility (2,000 Sqft.): $32,136 Ann.; 3% Ann. Inc.; Lease Exp.: 2025.
2nd Floor:
Suite 200 (1,500 Sqft.): $36,000 Ann.; M-M.
Suite 201 (500 Sqft.): $12,000 Ann.; M-M.
Suite 202 (Guidance Counselor, 600 Sqft.): $14,400 Ann.; M-M.
Suite 203 (600 Sqft.): $14,400 Ann.; M-M.
Expenses:
Gas: $6,000 Ann. (Heat For The 2nd Floor)
Electric: $6,000 Ann.
Maintenance & Repairs: $5,500 Ann.
Insurance: $12,000 Ann.
Water: $1,000 Ann. (Tenants Pay Their Own Except Common Bathroom On 2nd Floor)
Snow & Landscape: $600 Ann.
Taxes: $69,789 Ann.
Total Expenses: $100,889 Ann.
Gross Income: $221,412 Ann.
Net Operating Income (NOI): $120,523 Ann.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£173,244
|
£18.37
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£173,244
|
£18.37
|
| Taxes |
£54,606
|
£5.79
|
| Operating Expenses |
£24,334
|
£2.58
|
| Total Expenses |
£78,941
|
£8.37
|
| Net Operating Income |
£94,303
|
£10.00
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | £173,244 |
| Annual Per SF | £18.37 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £173,244 |
| Annual Per SF | £18.37 |
| Taxes | |
|---|---|
| Annual | £54,606 |
| Annual Per SF | £5.79 |
| Operating Expenses | |
|---|---|
| Annual | £24,334 |
| Annual Per SF | £2.58 |
| Total Expenses | |
|---|---|
| Annual | £78,941 |
| Annual Per SF | £8.37 |
| Net Operating Income | |
|---|---|
| Annual | £94,303 |
| Annual Per SF | £10.00 |
Property Facts
Sale Type
Investment
Property Type
Building Size
9,431 SF
Building Class
C
Year Built
1956
Price
£1,721,390
Price Per SF
£183
Percent Leased
100%
Tenancy
Multiple
Number of Floors
2
Typical Floor Size
4,716 SF
Building FAR
0.87
Land Acres
0.25 AC
Zoning
Retail
Parking
146 Spaces (15.48 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Route
- Commuter Rail
- Food Service
- Restaurant
- Security System
- Signage
- Roof Lights
- High Ceilings
- Natural Light
- Air Conditioning
Walk Score ®
Walker's Paradise (93)
-
Matthew Shane -
All Island Commercial
1 of 36
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32-38 Atlantic Ave., Lynbrook | 32-38 Atlantic Ave
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