425 Jerusalem Ave Uniondale, NY 11553
- Lifestyle centers
- 4,550 SF
Current Use by Public Records
- J&D Good Taste / Jamaican Restaurant / Catering Food And Drink Supplier
Property Details for 425 Jerusalem Ave
- Year built
- 1969
- Property size
- 4,550 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 4,550 square foot retail strip center located at 425 Jerusalem Ave, Uniondale, NY 11553, in Nassau County. The property, built in 1969, boasts five individual retail units currently operating at 100% occupancy under a net lease with a remaining term of 10 years. Generating a strong Net Operating Income (NOI) of $146,340 and an attractive 8.36% cap rate, this property offers a compelling return on investment. The asking price is $1,750,000, translating to $384.62 per square foot. The property features a substantial 100' x 110' parking lot. A significant advantage lies in the existing foundation, allowing for potential expansion by adding more stores or even a second floor. The property's prime Uniondale location ensures high visibility and accessibility. While currently configured as a five-unit retail center, the potential for expansion and increased revenue streams makes this a truly unique and lucrative investment opportunity. The seller may consider selling the building without the church (if applicable). Further development opportunities exist on the ample parking lot, potentially allowing for the construction of additional retail space or even residential units, significantly increasing rental income. This property is a rare find, combining immediate income with substantial future growth potential.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Uniondale
- County
- Nassau
- State
- New York
- Longitude
- -73.6017
- Latitude
- 40.702
