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About the Listing OVRS03 - 229190
Exceptional mixed-use investment property offering strong income potential and significant upside. Situated on a 9,000 sq. ft. lot with approximately 6,125 sq. ft. of rentable space, this well-maintained building consists of one ground-floor retail unit and two fully renovated two-bedroom apartments on the second level. The residential units were completely renovated approximately four months ago and feature gas-fired central heating and air conditioning, providing modern comfort and efficiency for tenants. The retail space and basement are serviced by oil-fired hot water heat and wall-mounted air conditioning units. The property also includes a full basement offering ample storage space, a detached two-bay commercial garage, and an on-site 12-car parking lot, providing excellent convenience for both residential and commercial occupants. Each unit is separately metered for electricity, allowing tenants to pay their own electric utilities. The building is serviced by 200-amp electrical service. Investment Highlights Mixed-use building with 1 retail unit and 2 residential apartments Two renovated 2-bedroom apartments Approximately 6,125 sq. ft. of rentable space 9,000 sq. ft. lot Detached 2-door commercial garage 12 dedicated parking spaces Full basement for storage Separate electric meters for each unit Residential units feature gas central heat and central air Retail space and basement feature oil-fired hot water heat with wall A/C units 200-amp electrical service Tenants pay their own utilities Financial Summary Current Monthly Gross Rental Income: $7,540 Annual Gross Rental Income: $90,480 Annual Operating Expenses (including taxes): $50,658.74 Current Net Operating Income (NOI): $39,820.26 Value-Add Opportunity The retail space offers the opportunity for rental increases to current market rates, providing investors with the potential to achieve an estimated 9% capitalization rate. With renovated residential units, separate utilities, abundant parking, and additional income potential, this property presents an excellent opportunity for both investors and owner-users seeking stable cash flow with future upside. ******All information provided is deemed reliable but is not guaranteed and should be independently verified by prospective buyers and their representatives. Property details, including but not limited to square footage, lot size, income, expenses, zoning, permits, taxes, leases, and all other information, are subject to verification. The listing broker and listing agent make no representations or warranties, express or implied, as to the accuracy or completeness of the information provided and assume no responsibility for any errors, omissions, or changes. Buyers are advised to conduct their own due diligence before entering into any agreement**********
Listing Highlights
Interior Details
- Bedrooms: 0
- Bathrooms: 0 Full
- Appliances: Dishwasher, Dryer, Exhaust Fan, Microwave, Oven, Refrigerator, Stainless Steel Appliance(s), Washer, Gas Water Heater, Oil Water Heater
- Air Cond: Central Air,Wall/Window Unit(s)
- Heating: Baseboard,Forced Air,Hot Air,Hot Water,Natural Gas,Oil
- Fireplaces:
- Floor: Hardwood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Storage Space
- Other:
- Water: Public
Exterior Details
- Lot Description: Paved,No Waterfront
- Garage Capacity: N/A
- Parking Spaces: 12
- Roof:
- Others: Updated/Remodeled
- Sewer: Public Sewer
- Parking Features: Driveway,Garage,On Street,Parking Lot
Financial Details
- Tax Amount: $38,372
- Taxes w/Assessments: N/A
- Tax/Property ID: 2489-46-115-00-0040-0
- Tax Year: N/A
Payment Calculator
Monthly Payment
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Questions About..
272 Broadway Bethpage, NY 11714
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