2 Park AveLong Beach, NY 11561

Property Details for 2 Park Ave

Year built

1984

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.46 AC

Property size (Sq ft)

2,340 SF

Property type

Retail properties

Property subtype

Drive through restaurants

APN

59-097-00-0001

APU

59097000001

Description

This exceptional 2,500 square foot restaurant space presents a unique investment opportunity on a prime corner lot in Nassau County. Located directly across from the Long Island Rail Road station, this property benefits from exceptionally high pedestrian traffic, making it an ideal location for a thriving food service business. The building features a striking wrap-around glass frontage, ensuring maximum visibility and attracting customers. Previously a restaurant, the space is equipped with existing hoods and vents, significantly reducing start-up costs and streamlining the setup process for a new tenant. A new long-term lease is available, offering stability and security for the future. The property's location on a high-traffic corner, combined with its proximity to the LIRR station and its existing restaurant infrastructure, makes it a truly exceptional opportunity for a discerning investor or restaurateur seeking a turnkey operation in a bustling area. No key money is required. The property is situated near Edwards St. and is a single-tenant space. This is the highest pedestrian traffic area in town.

• CAP approach

  CAP return

  Valuation

  6%

  $618,682

  6.5%

  $571,091

  7%

  $530,299

• Comparable approach

  Method

  Valuation

  Relative Method

  $770,476

  Geo Method

  $770,476

• Alternative Use

  Use

  Valuation

  Residential

  $481,737

  Hospitality

  $441,268

  Educational

  $367,130

  Medical

  $379,756

  Retail

  $571,091

Location Insight

City

Long Beach

County

Nassau

State

New York

Latitude

40.588

Longitude

-73.6637

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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