8 rockaway ave valley stream, ny 11580 · 2019-02-20 · retained to market 8-24 rockway avenue,...

8 Rockaway AveValley Stream, NY

11580

❑ 6 Tenant Retail Building

❑ Signalized Intersection

❑ Building Size of 18,500 SF

❑ $ 135 Price per Sq. Ft.

❑ Municipal Parking in Rear

❑ 100% Occupied

❑ 6.5% CAP Rate

NOI: $166,201

ASKING PRICE:

$2,500,000

http://www.assetcrg.com/

8 Rockaway AvenueValley Stream, NY, 11580

Presented by Asset Commercial Realty Group, LLCA Full Service Commercial Real Estate Company

Confidentiality Disclaimer

The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended

to be reviewed only by the party receiving it from Asset Commercial Realty Group, LLC (“AssetCRG”) and should

not be made available to any other person or entity without the written consent of AssetCRG. This Marketing

Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to

establish only a preliminary level of interest in the subject property. The information contained herein is not a

substitute for a thorough due diligence investigation. AssetCRG has not made any investigation, and makes no

warranty or representation, with respect to the income or expenses for the subject property, the future projected

financial performance of the property, the size and square footage of the property and improvements, the

presence or absence of contaminating substances, PCB's or asbestos, the compliance with State and Federal

regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of

any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information

contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however,

AssetCRG has not verified, and will not verify, any of the information contained herein, nor has AssetCRG

conducted any investigation regarding these matters and makes no warranty or representation whatsoever

regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate

measures to verify all of the information set forth herein.





Investment HighlightsAsset Commercial Realty Group has been exclusively

retained to market 8-24 Rockway Avenue, Valley

Stream, NY, a fully leased commercial Building in the

Valley Stream neighborhood of Nassau County

The building spans a total of 18,500 SF on a 21,000 SF

lot. The entire building is 100% leased to 6 retail

Tenants. All tenants have built in 3% annual increases

with reimbursement for Real Estate Taxes of the Base

Year of their Lease. The roof has been recently

replaced

The building is situated on a heavily trafficked

intersection of W. Merrick Road and Rockaway

Avenue. Both W. Merrick Road and Rockaway

Avenue are strong retail corridors. The building is also

adjacent to a municipal parking lot, with ample

parking, providing easy access to all tenants and

patrons.

The building is well positioned with great access to

public transportation. Its blocks away from the Valley

Stream LIRR Station and is near many buses, and

highways such as Sunrise Highway and the Belt

Parkway. Rockaway Avenue bustles with many

retailers with a great amount of foot and car traffic.

Collectively, the asset produces a Net Operating

Income (NOI) of $166,201. Ownership has set the

asking price at $2,500,000 which reflects a 6.5% CAP

rate or $135 PSF.

Site





Financial Overview & Lease Analysis

Financial Analysis

Address 8-24 Merrick Road, Valley Stream, NY

Section/Block/Lot 37-128-441

Town/City Hempstead

Cross Streets Rockaway Avenue and Merrick Road

Lot Size 100’ X 210’

Lot SF 21,000

Building Size 180’ X 100’

Building SF 18,500 SF

Number of Stories One

Zoning Retail Business (C-1)

Building Analysis

Annualized Expenses

Taxes $ 179,422.00

School Taxes $ 122,261

Village Taxes $ 33,884

General Taxes $ 23,277

Insurance $ 5,500.00

Repairs $ 3,500.00

Total Expenses $ 188,422.00

Annualized Operating Data

Gross Rental Income $ 323,022.00

Tax Recapture $ 31,601.64

Gross Operating Income $ 354,623.64

Less Expenses $ 188,422.00

Net Operating Income $ 166,201.64





Rent Roll

Tenant Name Lease Exp.

Size Monthly Rent Annual PSF Tax Recapture Options

Little Curious Explorers Nov-24 5,854 $ 6,790.00 $ 81,480.00 $ 13.92 $ 8,310.48

Valley Stream Nail Fetish Dec-23 880 $ 2,800.00 $ 33,600.00 $ 38.18

Kavenor Big & Tall* Jul-23 7,646 $ 7,500.00 $ 90,000.00 $ 11.77 $ 12,000.00 (1) 5 Year

Fiesta Food Mart Feb-22 800 $ 1,905.50 $ 22,860.00 $ 28.58 $ 1,800.00

America Serbi Express Dec-23 800 $ 1,699.50 $ 20,394.00 $ 25.49 $ 1,800.00

La Perla De Oriente Corp (Bar)

Sep-30 2,520 $ 6,224.00 $ 74,688.00 $ 29.64 $ 7,691.16

Total 18,500 $ 26,016.50 $ 323,022.00 $ 18.42 $ 31,601.64

*Includes a loading 2,150 SF loading zone in rear





Retail Map





Pictures





Exterior





Aerial

Municipal Parking Lot

Site





Demographics in Zip Code

Population Demographics Economic/Employment

Total population 22,984 Average household income $106,448

Female population 53.30% White collar 88.20%

Male population 46.70% Blue collar 11.80%

Median age 43.6 Housing

Male median age 42.4 Family households 69.30%

Female median age 45.3 Households with kids 32.30%

Education Housing units 8,984

No high school 3.00% Occupied housing units 8,337

Some high school or college 49.40% Owner occupied units 74.30%

Bachelors degree 22.30% Average number of people per household 2.74

Other Median year structure built 1945

Citizens 96.20% Houses with mortgages 65.50%

Citizens born in US 83.80% Wealth

English speakers 97.70% Median value for units with a mortgage $427,300

Journey to Work Median value for units without a mortgage $374,600

Work in a metropolitan area 99.90% Median gross rent $1,680

Work at home 2.70% Median housing costs per month $1,983

Go to work by car 71.10% Population in poverty 5.60%

Go to work after 10 am 16.50%



8 Rockaway AveValley Stream, NY

11580

❑ 6 Tenant Retail Building

❑ Signalized Intersection

❑ Building Size of 18,500 SF

❑ Municipal Parking in Rear

❑ 100% Occupied

❑ 6.50% CAP Rate

NOI: $166,201.64

ASKING PRICE:

$2,500,000

PLEASE CONTACT EXCLUSIVE ADVISORS

Albert AranbaevManaging Principal

[email protected]

Direct: (212) 918-9037

Mobile: (718) 551-7746

Yury UstoyevSenior Executive Director

[email protected]

Direct: (718) 412-1363

Mobile: (718) 838-4842

Broker Cooperation is Welcome!

mailto:[email protected]?subject=8%20Rockaway%20Avenue

mailto:[email protected]?subject=8%20Rockaway%20Avenue

8 rockaway ave valley stream, ny 11580 · 2019-02-20 · retained to market 8-24 rockway avenue,...

Documents