12 Myrtle St Mount Sinai, NY 11766
This exceptional commercial development opportunity in Mount Sinai, NY, presents two contiguous parcels totaling 8.54 acres within a Planned Development District (PDD). The property boasts preliminary approvals and is strategically located on Route 25A, a major four-lane highway with high traffic volume (40,000+ ADT), just half a mile east of Route 112. Site #1, spanning 4.66 acres, offers projected development of 30,800 square feet of retail space. Site #2, encompassing 3.88 acres, is projected to yield 42,800 square feet of medical office space across two floors, along with an additional 14,600 square feet of retail space including drive-thru capabilities. The development plan includes a new four-way signalized intersection at Route 25A and Myrtle Street, to be constructed by the experienced master developer of the PDD. Public sewer connections are readily available. This prime location benefits from its proximity to major medical facilities, including JT. Mather (Northwell), St. Charles (CHS), and Stony Brook University Hospitals, ensuring strong demographics and high potential for success. The property is zoned J2 Brookhaven/PDD and is sub-dividable, offering flexibility for various development scenarios. This is a rare opportunity to acquire two parcels within a thriving commercial area, poised for significant growth and return on investment. The total buildable square footage is projected to be 87,000 square feet across two buildings.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
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Property description
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No recorded transactions found for this property.
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Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.