385 Silver Ln
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385 Silver Ln
20,000 SF 75% Leased Industrial Building Oceanside, NY 11572 £2,034,369 (£102/SF) 10.06% Net Initial Yield
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 1+ Acre 5 Unit Development Site For Sale!!!
- The Property Is Located In The Heart Of Oceanside 1 Block Off Busy Atlantic Avenue!!!
- This Property Has HUGE Upside Potential!!!
- The Property Features Great Exposure, Excellent Signage, 200 Amp, High 26’ Ceilings, 15 Parking Spaces, 3 Br. House, Garage, 4 Greenhouses, +++!!!
- Neighbors Include Audi, Amazon, Nike, Costco, 7-Eleven, Dunkin, Walgreens, HomeGoods, Trader Joe’s, IHOP, KFC, +++!!!
- This Could Be Your Next Development Site / Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 1+ Acre 5 Unit Development Site For Sale!!! The Property Features Great Exposure, Excellent Signage, 200 Amp, High 26’ Ceilings, 15 Parking Spaces, 3 Br. House, Garage, 4 Greenhouses, Strategically Placed Curb Cuts, Strong Zoning, CAC, +++!!! The Property Is Located In The Heart Of Oceanside 1 Block Off Busy Atlantic Avenue!!! Neighbors Include Audi, Amazon, Nike, Costco, 7-Eleven, Dunkin, Walgreens, HomeGoods, Trader Joe’s, IHOP, KFC, +++!!! According To The Owner An 84 Unit Assisted Living Facility Is Being Built Next Door To This Property. The Entire Property Can Be Delivered Vacant If Need Be. This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site / Home For Your Business!!!
Income:
Main 3 Br. House: 1,800 Sqft.: $48,000 Ann. (Available)
6,000 Sqft. Greenhouse: $84,000 Ann. (Available)
(2) 5,000 Sqft. Greenhouses: $75,000 Each Ann. (Available)
2,000 Sqft. Greenhouse: $32,000 Ann. (Available)
Pro Forma Gross Income: $314,000 Ann.
Expenses:
Maintenance & Repairs: $250 Ann.
Insurance: $4,000 Ann.
Taxes: $48,158.68 Ann.
Total Expenses: $52,408.68 Ann.
Net Operating Income (NOI): $261,591.32 Ann. (Pro Forma 10.06 Cap!!!)
Income:
Main 3 Br. House: 1,800 Sqft.: $48,000 Ann. (Available)
6,000 Sqft. Greenhouse: $84,000 Ann. (Available)
(2) 5,000 Sqft. Greenhouses: $75,000 Each Ann. (Available)
2,000 Sqft. Greenhouse: $32,000 Ann. (Available)
Pro Forma Gross Income: $314,000 Ann.
Expenses:
Maintenance & Repairs: $250 Ann.
Insurance: $4,000 Ann.
Taxes: $48,158.68 Ann.
Total Expenses: $52,408.68 Ann.
Net Operating Income (NOI): $261,591.32 Ann. (Pro Forma 10.06 Cap!!!)
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
£245,689
|
£12.28
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
£245,689
|
£12.28
|
| Taxes |
£37,681
|
£1.88
|
| Operating Expenses |
£3,325
|
£0.17
|
| Total Expenses |
£41,007
|
£2.05
|
| Net Operating Income |
£204,683
|
£10.23
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £245,689 |
| Annual Per SF | £12.28 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | £245,689 |
| Annual Per SF | £12.28 |
| Taxes | |
|---|---|
| Annual | £37,681 |
| Annual Per SF | £1.88 |
| Operating Expenses | |
|---|---|
| Annual | £3,325 |
| Annual Per SF | £0.17 |
| Total Expenses | |
|---|---|
| Annual | £41,007 |
| Annual Per SF | £2.05 |
| Net Operating Income | |
|---|---|
| Annual | £204,683 |
| Annual Per SF | £10.23 |
Property Facts
Amenities
- Bus Route
- Commuter Rail
- Fenced Lot
- Yard
- Storage Space
Utilities
- Lighting
- Gas - Natural
- Water - County
- Sewer - County
- Heating - Gas
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
2 Greenhouse spaces available for growery and other agricultural uses. 5,000 - 7,000 Sf available
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 5,000 SF | Industrial | - | Now |
1st Floor
| Size |
| 5,000 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size | 5,000 SF |
| Space Use | Industrial |
| Condition | - |
| Available | Now |
2 Greenhouse spaces available for growery and other agricultural uses. 5,000 - 7,000 Sf available
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 2089-38-400-00-0486-0 | Total Assessment | £5,463 |
| Land Assessment | £3,919 | Annual Taxes | £37,681 (£1.88/sf) |
| Improvements Assessment | £1,545 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2089-38-400-00-0486-0
Land Assessment
£3,919
Improvements Assessment
£1,545
Total Assessment
£5,463
Annual Taxes
£37,681 (£1.88/sf)
Tax Year
2024
zoning
| Zoning Code | C (previously used as a agricultural nursery for growing and retail) |
| C (previously used as a agricultural nursery for growing and retail) |
-
Matthew Shane -
All Island Commercial
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