269 Burnside Ave Lawrence, NY 11559
- Lifestyle centers
- 8,478 SF
Current Use by Public Records
- Lifestyle centers
Property Details for 269 Burnside Ave
- Property size
- 8,478 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional, stabilized shopping center in Lawrence, NY, presents a compelling investment opportunity. The property, located at 269 Burnside Avenue, boasts 8,478 square feet across five units within a single, one-story building, renovated in 2023. With a 100% occupancy rate and a weighted average lease term exceeding eight years, this investment offers strong, predictable cash flow. The Net lease structure ensures tenants cover all mechanical system maintenance. The property features ample on-site parking for 24 vehicles. The $5,300,000 asking price translates to $625.15 per square foot, and the property enjoys a 5.62% cap rate with a current NOI of $298,073. Situated on a 19,166 square foot lot, the center benefits from over 100 feet of frontage on Burnside Avenue, providing excellent visibility. Its strategic location places it in close proximity to high-credit retailers such as Starbucks, Chase Bank, Chipotle, and Planet Fitness, further enhancing its appeal and potential for future growth. This is a rare opportunity to acquire a well-positioned, high-performing retail asset 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
- Lawrence
- County
- Nassau
- State
- New York
- Longitude
- -73.7366
- Latitude
- 40.6238
