$3,350,000
4-12 Centre AVE East Rockaway, NY 11518
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$3,350,000
Est. payment /mo
0.64 Acres Lot
Price Dropped by $225K
4-12 Centre AVE East Rockaway, NY 11518
UPDATED:
10/03/2024 02:41 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID 3542531
Originating Board onekey
Rental Info No
Year Built 1936
Annual Tax Amount $104,000
Lot Size 0.640 Acres
Acres 0.64
Lot Dimensions 55x109
Property Description
Calling All Investors & Developers!!! 18 Unit Mixed-Use Property/ Development Site For Sale!!! The Property Features Excellent Signage, Great Exposure, 8 Buildings, Solid Tenants, 30+ Parking Spaces, 11 Apartments, 6 Stores & 1 Office, Separate Meters, New Roof, New Siding, New AC Units, New Hardwired Fire Alarms, New Appliances, New Bathrooms, +++!!! 4-12 Centre Avenue Is Situated On A HUGE 27,718 Sqft. Lot!!! The Property Is Located The Heart Of East Rockaway; Only 100' Away From The Centre Avenue LIRR Train Station!!! Neighbors Include CVS, Wendy's, Chase, 7-Eleven, Dunkin', Stop & Shop, +++!!! This Property Offers HUGE UPSIDE Potential! This Could Be Your Next Investment Property/ Development Site!!! Income: 4 Upper (Huge 3 Br, 2 Bath Apt.): $ 28,200 Ann.; M-M (Pro Forma $43,800 Ann.) (1,682 Sqft.) M-M. 4 Lower (Huge 2 Br, 1 Bath Apt.): $20,700 Ann.; M-M (Pro Forma $34,200 Ann.) (1,345 Sqft.) M-M. 4B Commercial (Pet Groomer): $24,840 Ann.; Lease Exp. 3/31/25; 3% Ann. Inc.. (Pro Forma $30,000 Ann.) (944 Sqft.) 4A Commercial (Jewelry Store): $13,920 Ann.; Lease Exp. M-M; 3% Ann. Inc. (Pro Forma $18,600 Ann.) (550 Sqft.) 6 Upper (Large 1 Br, 1 Bath Apt.): $24,000 Ann.; Lease Exp. 4/30/24 (Pro Forma $28,800 Ann.) (740 Sqft.) 6 Lower (Large Studio Apt.): $17,268 Ann.; M-M (Pro Forma $19,800 Ann.) (493 Sqft.) 6 Commercial (Wedding Dress Couture): $10,800 Ann.; M-M. (Pro Forma $14,400 Ann.) (312 Sqft.) 6 Office (312 Sqft.): $9,600 Ann. (Available) Yard: $36,000 Ann. (Available) 8A (Large Studio Apt.): $21,600 Ann.; M-M (439 Sqft.) 8B (Large1 Br, 1 Bath Apt.): $14,100 Ann.; M-M (Pro Forma $27,000 Ann.) (658 Sqft.) 8C (Large Studio Apt.): $16,800 Ann.; M-M (Pro Forma $19,800 Ann.) (439 Sqft.) 8D (Large Studio Apt.): $15,600 Ann.; M-M (439 Sqft.) 8E (Large 1 Br, 1 Bath Apt.): $17,700 Ann.; M-M (Proforma $26,800 Ann.) (658 Sqft.) 8 Commercial (Convenience Store): $39,000 Ann.; Lease Exp. 12/31/25; 3% Ann. Inc.; (Proforma $38,400 Ann.) (1,100 Sqft.) 8 Commercial (Pizzeria): $32,400 Ann.; Lease Exp. 12/31/24; 3% Ann. Inc. (782 Sqft.) 8 Commercial (Elia's Couture): $21,600 Ann.; M-M (Proforma $36,000 Ann.) (782 Sqft.)1 12 Upper (2 Br, 1 Bath Apt.): $28,800 Ann.; M-M (Available) (867 Sqft.) 12 Lower (3 Br, 2 Bath Apt.): $30,600 Ann.; M-M (Proforma $43,200 Ann.) (1,146 Sqft.) 12 Restaurant (Fusion II Deli): $31,200 Ann.; Lease Exp. 1/31/25; 3% Ann. Inc.(834 Sqft.) Current Gross Income: $380,328 Ann. Proforma Gross Income: $556,000 Ann. Expenses: Gas: $9,000 (Apartment Only Heat) Electric: $500 (Exterior Light Only) Maintenance & Repairs: $850 Insurance: $6,300 Taxes: $104,000 Water: $2,000 Landscape: $0 Snow Removal: $800 Total Expenses: $123,450 Ann. Net Operating Income (NOI): $432,550 (Pro Forma 12.91 Cap!!!)
Location
State NY
County Nassau
Zoning 483.04
Interior
Fireplace No
Building
Story 2
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • 516-783-5600
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