REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,100,000
Est. payment /mo
New
222 HEMPSTEAD AVE Lynbrook, NY 11563
UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 982318
Rental Info No
Year Built 1949
Annual Tax Amount $17,147
Property Sub-Type Mixed Use
Source onekey2
Property Description
Located at the heart of the five corners, this cash flowing commercial mixed-use asset consists of a ground floor retail space and two residential apartment units, a well manicured back lawn, and two dedicated parking spaces. Each apartment unit is a fully updated 2 bedroom, 1 bathroom with annual leases in place and long-term reliable tenants. The upstairs residential tenant is paying $2,850/month and the first-floor residential tenant is paying $2,200/month, well below market rent. The commercial tenant is in the third year of a five year gradual rate increase lease, and is currently paying $3,502/month, bringing gross annual income to $102,624. The commercial tenant has very consistent clientele with plenty of foot traffic and has operated a successful business out of the retail space for many years.
This consistently cash flowing property has been well maintained and is conveniently located less than 10 minutes from the Lynbrook, Valley Stream, Rockville Centre and Malverne train stations.
This consistently cash flowing property has been well maintained and is conveniently located less than 10 minutes from the Lynbrook, Valley Stream, Rockville Centre and Malverne train stations.
Location
State NY
County Nassau County
Rooms
Basement Unfinished
Interior
Heating Natural Gas
Cooling Central Air, Wall/Window Unit(s)
Fireplace No
Appliance Gas Range, Refrigerator
Exterior
Utilities Available Sewer Connected, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick,Frame,Unknown,Vinyl Siding
Others
Special Listing Condition None
Listed by Signature Premier Properties • Anthony DiCosimo
Nearby Locations