15 Berry Hl Rd Oyster Bay, NY 11771-3537
- Strip malls
- 840 SF
- 0.41 lot acres
Current Use by Public Records
- Custom Rug Cleaning Nassau County / Carpet Cleaning Service
Property Details for 15 Berry Hl Rd
- Year built
- 1929
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.41 lot acres
- Property size
- 840 SF
- Property type
- Strip malls
- Property subtype
- Neighborhood centers
- APN
- 27-023-00-0105
- APU
- 27023000105
Description
This exceptional multi-tenant shopping center, located at a highly visible four-way signalized intersection in Oyster Bay, NY (15 Berry Hill Rd, 11771), presents a compelling investment opportunity. The 11,210 square foot building, completely renovated in 2005, boasts a beautiful brick facade, slate mansard roof, precast moldings, and a paving stone walkway. The property features 8,350 square feet of first-floor retail space, accommodating four large stores, and 2,020 square feet of second-floor office suites. An additional 840 square feet of lower-level space offers potential for increased income. Ample parking is provided with an 18-car lot. The property enjoys a strong tenant mix, demonstrating resilience to internet-based competition. Financial highlights include an asking price of $2,995,000 ($267 per square foot), a pro-forma NOI of $152,814, and a pro-forma cap rate of 5.10%. Clean environmental reports are available, including confirmation from the on-site green dry cleaner that no environmentally hazardous chemicals are used. The location, at the gateway to Oyster Bay adjacent to the Teddy Roosevelt statue, ensures high visibility and accessibility.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $2,800,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $2,720,000
- 6.5%
- $3,080,000
- 7%
- $2,805,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $2,640,000
- Geo Method
- $3,355,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $3,135,000
- Retail
- $2,855,000
- Mixed-Use
- $3,185,000
- Hospitality
- $2,525,000
- Educational
- $2,935,000
- Residential Income
- $3,170,000
- Energy
- $2,515,000
- Income-Based Land
- $2,430,000
- Food Service
- $2,685,000
Location Insight
- Map
- Local Demand
- City
- Oyster Bay
- County
- Nassau
- State
- New York
- Longitude
- -73.5315
- Latitude
- 40.8655
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
