Property profile

60-62 Park Ave Long Beach, NY 11561

OFF-MARKET
Retail space
Property ID
US63-2534312
1,650 SF 0.09 ac lot Built 1924
Entity Owned 10-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional two-story commercial building, located at 60-62 West Park Avenue, offers a prime opportunity for businesses seeking executive office space in Nassau County. Built in 1974, the property boasts a total of 7,200 square feet across one building, divided into six suites. Currently, 3,000 square feet of flexible space is available for lease, with a minimum divisible unit of 300 square feet and a maximum contiguous space of 2,100 square feet. This allows for a variety of tenant needs, from small startups to established businesses requiring larger footprints. The building's convenient location near Edwards Blvd. provides excellent accessibility and visibility. The property is classified as both retail and office, offering versatile options for various business types. The multiple tenancy structure allows for a diverse and vibrant community within the building. This is an excellent opportunity to secure high-quality office space in a desirable location. The building's layout and size provide a comfortable and productive work environment. Interested parties are encouraged to inquire about lease terms and availability for the available 3,000 square feet of space. Don't miss this chance to establish your business in this well-situated Nassau County property.

Property profile

Verified
Property type Retail space
Use group RETAIL STORES (PERSONAL SERVICES)
Year built 1924
Construction FRAME
Total area 1,650 SF
Lot 0.09 ac (4,000 SF)
APN 59-084-00-0009
UPID US63-2534312

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

60-62 Park Ave Long Beach, NY 11561
Long Beach metro Census 416600 NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
$505k
Comparable Approach Comparable
$1.11M
Blend (final) Blend
$805k

Owner & transaction history

since 2016
2 recorded transactions
2016
$1.6M
2007
Price N/A

Zoning & alternative use

Top alternative use upside
Office building $1.2M +23.8%
Auto repair, garage $1.1M +15.3%
Commercial (general) $1.1M +13.6%

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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