410 Lake Ave 1,950 SF Retail Building Saint James, NY 11780 £638,233 (£327.30/SF) 9.34% Net Initial Yield
INVESTMENT HIGHLIGHTS
- Calling All Investors, Developers & End-Users!!! 9.34 Cap 1,950 SF. Free Standing Building With WET Use + Private Parking Lot On Lake Ave. For Sale!!
- The Building Features Excellent Signage, Great Exposure, Strong Central Business Zoning, 25 Parking Spaces, High 10’ Ceilings, Parking Lot, +++!!!
- As Per The Seller The Property Building Has Air Rights Up To 35'!!
- The Property Is Located In The Heart Of Saint James 2 Blocks From The Saint James LIRR Station & Has 54+ Feet Of Frontage On Busy Lake Avenue!!!
- Neighbors Include Starbucks, USPS, Mercedes, Lexus, Acura, Kia, Toyota, Jeep-Dodge-Ram, Chevrolet, Mazda, Fairfield Properties, Capital One Bank, +++!
- This Could Be Your Next Development Site Or The Next Home For Your Business!!!
EXECUTIVE SUMMARY
Calling All Investors, Developers & End-Users!!! 9.34 Cap 1,950 Sqft. Free Standing Building With WET Use + Private Parking Lot On Lake Avenue For Sale!!! The Property Is Located In The Heart Of Saint James 2 Blocks From The Saint James LIRR Station!!! The Building Features Excellent Signage, Great Exposure, Central Business Zoning, 25 Parking Spaces, High 10’ Ceilings, Private Driveway & Parking, Sprinklers, Security System, Strategically Placed Curb Cuts, Accessible Parking & Bathrooms, All New LED Lighting, CAC+++!!! The Building Has 54+ Feet Of Frontage On Busy Lake Avenue!!! Neighbors Include Starbucks, USPS, Mercedes, Lexus, Acura, Kia, Toyota, Jeep-Dodge-Ram, Chevrolet, Mazda, Fairfield Properties, Capital One Bank, TD Bank, King Kullen, 7-Eleven, Dunkin’, Whole Foods, Costco, BP Gas, Lowe’s, Trader Joe’s, Macy’s, +++!!! As Per The Seller The Building Has Air Rights Up To 35’!!! The Entire Building Can Be Delivered Vacant If Need Be!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!!
Income:
Storefront (1,950 Sqft.): $78,000 Ann. NNN
Pro Forma Gross Income: $78,000 Ann.
Expenses:
Gas: $0 Ann. (NNN Lease)
Electric: $0 Ann. (NNN Lease)
Water: $0 Ann. (NNN Lease)
Maintenance & Repairs: $0 (NNN Lease)
Insurance: $0 (NNN Lease)
Taxes: $14,268 Ann. (Tenant Pays, NNN Lease)
Total Expenses: $0 Ann.
Pro Forma Net Operating Income (NOI): $78,000 Ann. (9.34 Cap!!!)
Income:
Storefront (1,950 Sqft.): $78,000 Ann. NNN
Pro Forma Gross Income: $78,000 Ann.
Expenses:
Gas: $0 Ann. (NNN Lease)
Electric: $0 Ann. (NNN Lease)
Water: $0 Ann. (NNN Lease)
Maintenance & Repairs: $0 (NNN Lease)
Insurance: $0 (NNN Lease)
Taxes: $14,268 Ann. (Tenant Pays, NNN Lease)
Total Expenses: $0 Ann.
Pro Forma Net Operating Income (NOI): $78,000 Ann. (9.34 Cap!!!)
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Taxes |
£10,906
|
£5.59
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
£10,906
|
£5.59
|
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
1,950 SF
Building Class
C
Year Built
1950
Price
£638,233
Price Per SF
£327.30
Net Initial Yield
9.34%
NOI
£59,619
Tenancy
Single
Number of Floors
1
Building FAR
0.18
Lot Size
0.25 AC
Zoning
Central Business
Parking
25 Spaces (12.82 Spaces per 1,000 SF Leased)
Frontage
54 ft on Lake Ave
AMENITIES
- 24 Hour Access
- Fenced Plot
- Restaurant
- Security System
- Signage
- Tenant Controlled Heating
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Smoke Detector
Walk Score®
Very Walkable (80)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0800-056-00-01-00-057-000 | Total Assessment | £4,074 (2023) |
| Land Assessment | £631 (2023) | Annual Taxes | £10,906 (£5.59/sf) |
| Improvements Assessment | £3,443 (2023) | Tax Year | 2025 |
