338-350 Nassau Rd Roosevelt, NY 11575

Property Details for 338-350 Nassau Rd

Year built

1955

Property size

12,600 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a fully occupied, multi-tenant shopping center located at 338-350 Nassau Rd, Roosevelt, NY 11575, in Nassau County. The property boasts 12,600 square feet across four single-story buildings, constructed in 1955. Currently enjoying 100% occupancy, the center generates a substantial annual income of $357,600, with expenses totaling $77,000, resulting in a strong net operating income (NOI) of $280,600. This translates to a pro-forma cap rate of 5.85% and a price per square foot of $380.87. The asking price for this prime retail asset is $4,799,000. Tenants include a diverse mix of businesses, such as a bakery, phone store, auto parts store, discount store, party store, church, braiding place, and liquor store, along with two vacant spaces offering significant upside potential (one large, one medium). The current lease agreements provide long-term stability and consistent cash flow. The property's strong tenant mix and location in a densely populated area make it an attractive investment for both seasoned and new investors seeking a stable, high-return retail portfolio addition. Annual income is derived from a diverse tenant base with monthly rental income totaling $29,800. Annual expenses include $62,000 in taxes, $10,000 in insurance, and $5,000 in incidental costs.

Location Insight

City

Roosevelt

County

Nassau

State

New York

Longitude

-73.5908

Latitude

40.681