32 Atlantic AveLynbrook, NY 11563

Property Details for 32 Atlantic Ave

Year built

1956

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.25 AC

Property size (Sq ft)

6,065 SF

Property type

Retail properties

Property subtype

Retail space

APN

38-521-00-0015

APU

38521000015

Description

This exceptional 7-unit retail building, situated on a 0.25-acre lot (10,850 sqft) at 32 Atlantic Ave in Lynbrook, NY, presents a compelling investment or owner-user opportunity. The 9,400+ square foot building boasts excellent signage and visibility on a high-traffic street (4,900+ vehicles daily), benefiting from its location in the heart of Lynbrook Centre, just one block from the Lynbrook LIRR station and midway between Sunrise Highway and Merrick Road. The property features 146 parking spaces, high 10' ceilings, all new LED lighting, a skylight, and 200-amp power, along with central air conditioning. Current tenants include a deli (3,000 sqft, $67,980 annual income, lease expiring 2026), a nail salon (2,000 sqft, $44,496 annual income, lease expiring 2026), and a cooking school/catering facility (2,000 sqft, $32,136 annual income, lease expiring 2025). The second floor comprises four additional suites (1,500, 500, 600, and 600 sqft) generating annual income of $36,000, $12,000, $14,400, and $14,400 respectively, all with month-to-month leases. Annual gross income totals $221,412, while annual expenses (including gas, electric, maintenance, insurance, water, snow removal, landscaping, and taxes) amount to $100,289. The deli space can be delivered vacant if needed to accommodate an owner-user. Strong zoning and proximity to numerous national brands (Starbucks, Audi, Acura, Volkswagen, etc.) further enhance this property's value and potential. This property offers significant upside potential for investors and a prime location for businesses seeking high visibility and accessibility.

• CAP approach

  CAP return

  Valuation

  6%

  $1,474,007

  6.5%

  $1,360,622

  7%

  $1,263,434

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,996,981

  Geo Method

  $1,996,981

• Alternative Use

  Use

  Valuation

  Residential

  $1,147,735

  Hospitality

  $1,051,319

  Educational

  $874,685

  Medical

  $904,767

  Retail

  $1,360,622

Location Insight

City

Lynbrook

County

Nassau

State

New York

Latitude

40.6561

Longitude

-73.6713

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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