UPDATED:
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID KEY831122
Originating Board onekey2
Rental Info No
Year Built 1948
Annual Tax Amount $25,596
Lot Size 8,437 Sqft
Acres 0.1937
Property Sub-Type Mixed Use
Property Description
Looking for a commercial building in Long Island? Good investment opportunities in Long Island, low cost, stable returns!
Property Overview
• Location: Valley Stream, Long Island
47 Franklin Ave, Valley Stream, NY 11580
• Floor area: 8,450 square feet
• Building area: 3,304 square feet
• Parking spaces: nearly18-20
Property structure
• First floor: restaurant, party room and outdoor BBQ dining area,2 bathrooms
• Second floor: office,1 full bathroom
Leasing status
• Current business: Mexican restaurant, beautifully decorated, booming business
• Rent: $7,100/month (including property tax), annual rental income $85,200
• Tenants bear all water, electricity and gas expenses.
• Lease: NNN lease 3 years remaining + 5 years renewable.
• Rent growth: 3%-4% per year
Return on investment
• Property tax: $25,600, tax reduction can be applied for
• Rate of return: about 6%
• Worry-free rent collection, stable cash flow
Additional advantages
• Homeowner loans can be provided, with interest rates better than banks
• Well-decorated, equipped with central heating and cooling system, new roof
Location
State NY
County Nassau County
Interior
Heating See Remarks
Cooling Central Air
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Electricity Connected, Natural Gas Connected, See Remarks, Sewer Connected, Water Connected
Total Parking Spaces 18
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
The mission of the ASA Real Estate Group is to provide a lifelong, positive impact on our clients, our communities, our team, as well as the other realtors with which we work. We specialize in assisting Buyers and Sellers transact. With our extensive knowledge of the market we help our clients get the best possible price for their home through proactive marketing approach. We guide sellers and buyers through every step of the process and keep them updated their transaction.