1061 Broadway Massapequa, NY 11758-1853
- Office buildings
- 3,150 SF
- 0.23 lot acres
Current Use by Public Records
- DiGiovanna Institute For Medical Education & Research / Research Foundation
- Long Island Premier Physical / Physical Therapist
- Tara Halpern, PA-C / Physician Assistant
- Pollytia I. Panagiotou, MD / Doctor
- Ferraro Dorothy M / Doctor
Property Details for 1061 Broadway
- Year built
- 1969
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.23 lot acres
- Property size
- 3,150 SF
- Property type
- Office buildings
- APN
- 52-527-00-0235
- APU
- 52527000235
Description
This 12,750 square foot commercial building in Massapequa, NY, presents a compelling investment opportunity. Located on N. Broadway, just five blocks from the Southern State Parkway, it boasts excellent visibility and high traffic counts (23,600+ vehicles daily). The property features 26 parking spaces in a private lot, high 10-foot ceilings, an elevator, all new LED lighting, sprinklers, and 3-phase power. The building is currently generating a substantial net operating income (NOI) of $293,756 annually (pro forma 10.31 cap), with a total gross income of $413,200. Current tenants include a medical office (2nd floor, $264,000 annual income, lease expiring 3/1/29), a gynecologist (1st floor, $51,600 annual income, lease expiring 1/1/26 with two 5-year options), and a medical lab (1st floor, $28,800 annual income, currently available). Additionally, there is 2,800 square feet of available space on the first floor for lease. Annual expenses include electricity ($2,400), insurance ($12,000), maintenance and repairs ($10,000), dumpster service ($3,600), elevator maintenance ($1,200), and taxes ($90,244.65). The property's strong zoning, excellent signage, and proximity to major retailers such as Starbucks, Verizon, UPS, Stop & Shop, CVS, Walgreens, and many others, make it an ideal investment for developers, investors, or end-users seeking a high-return property in a prime location. The building's current income stream, combined with the potential for increased rental income from the available space, offers significant upside potential.
Value Estimations
-
CAP approach
- CAP Return
- Estimation
- 6%
- $965,000
- 6.5%
- $890,000
- 7%
- $825,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $1,016,000
Market price range: $118k - $1.29M
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Location Insight
- Map
- Local Demand
- City
- Massapequa
- County
- Nassau
- State
- New York
- Longitude
- -73.4614
- Latitude
- 40.7107
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
