232 Broadway Babylon, NY 11701
- Commercial real estate
- 5,600 SF
Current Use by Public Records
- Commercial real estate
Property Details for 232 Broadway
- Year built
- 1966
- Property size
- 5,600 SF
- Property type
- Commercial real estate
Description
This exceptional 5,600 square foot mixed-use property in Babylon, NY, boasts a prime location on Broadway with 138+ feet of frontage. The fully occupied building features a diverse tenant mix including a nail salon, beauty parlor, diner, and two residential apartments (two 2-bedroom, 1-bathroom units), generating a substantial annual gross income of $213,600. The property includes 30 parking spaces, high ceilings (9 feet), updated LED lighting, a ramp for accessibility, sprinkler system, accessible bathrooms, and 200-amp power. Convenient curb cuts enhance accessibility. The strong tenant base and strategic location near the Amityville LIRR station and numerous national retailers (Starbucks, Mercedes-Benz, Target, Home Depot, and many more) ensure consistent cash flow. Annual expenses total $43,071.45, resulting in a strong net operating income (NOI) of $170,528.55, representing a 7.75% capitalization rate. This presents a remarkable investment opportunity with significant upside potential for both investors and developers. The property's size and location make it ideal for future expansion or redevelopment. This is a rare chance to acquire a high-performing, well-located commercial property in a thriving market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Babylon
- County
- Suffolk County
- State
- New York
- Longitude
- -73.343
- Latitude
- 40.7162
