8 Broadway 14, Malverne, NY 11565-1633

This exceptional investment opportunity presents a fully occupied, six-unit retail storefront building situated at 8 Broadway in Malverne, NY, 11565. The property, built in 1929, boasts 5,800 square feet on a 6,750 square foot lot and is zoned for commercial use. Currently operating at 100% occupancy, the building generates a substantial net operating income (NOI) of $115,362, representing a 6.00% cap rate on the asking price of $1,925,000 ($331.90 per square foot). The property benefits from a gross lease structure with multiple tenants, each contributing to real estate taxes, and most contributing to water expenses. Tenants are responsible for their own utilities. Rent increases of 3-4% are built into the leases, ensuring future income growth. The convenient location, within walking distance of the Malverne LIRR train station and a half-mile from various shops and restaurants, including the Malverne Deli, Connolly Station Pub, and Malverne Cinema, contributes to its strong tenant base and high traffic counts due to its proximity to Franklin Avenue. This fee-simple ownership offers a stable and attractive return on investment. The property's Asset Property Number (APN) is 2027-37-212-00-0424-0. Please note that direct communication with tenants is discouraged.