160 Oak Dr Syosset, NY 11791-4621
Property profile & analytics
160 Oak Dr Syosset, NY 11791-4621
- Office buildings
- 10,044 SF
- 0.69 lot acres
Property ID
US63-1078437
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- PAYOMATIC / Check Cashing
Property Details for 160 Oak Dr
- Year built
- 1956
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 0.69 lot acres
- Property size
- 10,044 SF
- Property type
- Office buildings
- APN
- 15-00G-00-0033
- APU
- 1500G000033
Description
This exceptional investment opportunity presents a single-tenant, 14,888 square foot Class B office building located at 160 Oak Dr, Syosset, NY 11791. The property sits on a 0.69-acre lot (30,056 sq ft) and boasts 40 parking spaces. Currently 100% occupied by Pay-O-Matic, New York's largest check cashing and financial services provider, under a lease expiring November 30, 2024. The current annual net operating income (NOI) is $325,370, representing a compelling 12.05% cap rate based on the $2,700,000 asking price. The lease includes a 3% annual rent escalation. A 30-month renewal option exists at a reduced annual rent of $313,370, with a 6-month cancellation clause for the tenant. Importantly, beginning December 1, 2024, the landlord will assume responsibility for real estate taxes (approximately $138,000 annually). The property features a single-story building constructed in 1978, zoned for Light Industrial use (LI). This is a fee-simple ownership opportunity with a strong, long-term tenant in a prime location. The building's total square footage is 30,056 sq ft, with 14,888 sq ft of net rentable space. The lease is an Absolute NNN lease, meaning the tenant is responsible for all operating expenses including insurance, common area maintenance, roof and structure, HVAC, and utilities. This presents a low-maintenance, high-return investment opportunity.
Value Estimations
based on Realmo’s proprietary methodology
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Syosset
- County
- Nassau
- State
- New York
- Longitude
- -73.5152
- Latitude
- 40.8051
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$138,645
$6,750
$13,406
$20,156
-
$0.00
$0.00
$2,015,600
