Mixed-Use Redevelopment
271-279 South Wellwood Avenue Lindenhurst, NY 11757
271-279 South Wellwood Avenue, Lindenhurst, NY, 11757
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For Sale
Contact for pricing
Infill redevelopment site with an existing retail structure and an adjoining dedicated parking lot in the Business District.
Property Size10,000 SF
Lot Size0.46 Acres
Price / SF$425
Days on Market91
Property Features for 271-279 South Wellwood Avenue
General Information
- Standard status
- Active
- Size
- 10,000 SF
- Lot size
- 0.46 Acres
- Property subtype
- Mixed Use, Land, Retail
Building Details
- Year Built
- 1954
Listing agency
Parallel Realty Group, LLC
Listed by
Robert Bakhchi · License #10991228697
Source
Crexi
Added: Apr 24 Updated: Jul 22 at 9:41PM Checked: Jul 22 at 9:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Parallel Realty Group, LLC
Investment Insights
Based on property information with market context.
Located at 271–279 South Wellwood Avenue in Lindenhurst, this infill redevelopment opportunity includes a combined 20,000 SF footprint split between a 10,000 SF existing retail structure and a 10,000 SF dedicated parking lot. The site is positioned in the Business (B) District, where a broad range of commercial uses is permitted, subject to Village review.
The existing retail building can support adaptive reuse or be repositioned as a cost-effective shell. The dedicated parking lot provides flexibility for required parking ratios and future building expansion, with potential for site amenities. The property is described as walkable to the Village downtown, and the municipal environment is noted as supportive of thoughtful redevelopment efforts.
Ownership is also considering the sale of an additional 7,700 building/lot at 271 S. 1st St behind the main structure, which would allow the site to be squared off to support redevelopment planning.
The existing retail building can support adaptive reuse or be repositioned as a cost-effective shell. The dedicated parking lot provides flexibility for required parking ratios and future building expansion, with potential for site amenities. The property is described as walkable to the Village downtown, and the municipal environment is noted as supportive of thoughtful redevelopment efforts.
Ownership is also considering the sale of an additional 7,700 building/lot at 271 S. 1st St behind the main structure, which would allow the site to be squared off to support redevelopment planning.
Key Highlights
- 20,000 SF infill redevelopment site in the Village of Lindenhurst Business (B) District
- Existing 10,000 SF retail structure plus an adjoining 10,000 SF dedicated parking lot
- Potential for mixed‑use development (retail + residential/office) subject to Village review
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $300.0k | $30.00 |
| − Vacancy | −$20.7k | −$2.07 |
| EGI | $279.3k | $27.93 |
| − OpEx | −$83.8k | −$8.38 |
| NOI | $195.5k | $19.55 |
10,000 SF · lease $30.00/SF/yr · vacancy 6.90% · expense 30.00%
Alternative Uses
Best Use
Retail
$2.79M
$2.44M – $3.26M
NOI $195,510 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.05M
$2.67M – $3.55M
NOI $213,252 @ 7.0% cap · market cap 5.02%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Plus Insurance Service ...
Insurance Agency
Global Insurance Co
Insurance Agency
Similar For Sale Nearby
Similar Off Market Nearby
- Design in Silk — 156 S Clinton Ave, Lindenhurst, NY 11757
- Little Flower Shop — 437 N Wellwood Ave, Lindenhurst, NY 11757
FAQs
What type of property is this?
Storefront property - Infill redevelopment site with an existing retail structure and an adjoining dedicated parking lot in the Business District.
Where is this storefront property located?
The property is located at 271-279 South Wellwood Avenue Lindenhurst, NY.
What is the asking price?
The asking price for this property is $4,250,000.
What are key features of this property?
This property features: 20,000 SF infill redevelopment site in the Village of Lindenhurst Business (B) District; Existing 10,000 SF retail structure plus an adjoining 10,000 SF dedicated parking lot; Potential for mixed‑use development (retail + residential/office) subject to Village review
