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47 Franklin Ave Valley Stream, NY 11580

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Pending
$990,000

Commercial building with restaurant, office, and outdoor dining area.

Lot size:
0.19 Acres

Property Features for 47 Franklin Ave

General Information

Standard status
Pending
Lot size
0.19 Acres

Building Details

Year built
1948

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Listing Contact
Sophia X. Yao
Source: Exitrealty

Listing Agency: Chase Global Realty Corp Listing Agent: Sophia X. Yao

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Valley Stream Commercial Building For Sale

Located in Valley Stream, Long Island, this commercial building at 47 Franklin Ave offers investment opportunities. The property has a floor area of 8,450 square feet and a building area of 3,304 square feet, with parking for approximately 18-20 vehicles. The first floor features a restaurant, a party room, an outdoor BBQ dining area, and two bathrooms. The second floor contains an office and one full bathroom. Currently operating as a beautifully decorated Mexican restaurant, the property generates a rental income of $7,100 per month, or $85,200 annually, under a NNN lease with 3 years remaining plus a 5-year renewal option. The lease includes a 3%-4% annual rent growth, with tenants responsible for all water, electricity, and gas expenses. The property is equipped with a central heating and cooling system and a new roof. The annual property tax is $25,600, and a tax reduction may be applicable.
Location Intelligence

Current Use by Public Records

Tepache Restaurant

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Valley Stream
County
Nassau
State
New York
Longitude
-73.681834
Latitude
40.67648

FAQs

What type of property is this?
Conventional restaurant - Commercial building with restaurant, office, and outdoor dining area.
Where is this conventional restaurant located?
The property is located at 47 Franklin Ave Valley Stream, NY.
What is the asking price?
The asking price for this property is $990,000.
What are key features of this property?
This property features: - Stable cash flow with an existing NNN lease in place, providing worry-free rent collection.; - Attractive 6% rate of return on investment.; - Current tenant is a successful, beautifully decorated Mexican restaurant.
More about this property
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