1061 N Broadway
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1061 N Broadway
12,750 SF 73% Leased Office Building Massapequa, NY 11758 $2,850,000 ($224/SF) 10.31% Cap Rate
Investment Highlights
- Calling All Investors, Developers & End-Users!!! 10.31 Cap 12,750 Sqft. Corner Medical Office Building With Private Parking Lot For Sale!!!
- The Property Is Located In Massapequa On N. Broadway Just 5 Blocks From The Southern State Pkwy.!!!
- This Property Has A Daily Traffic Count Of 23,600+ Vehicles Per Day!!!
- The Building Features Excellent Signage, Great Exposure, Strong Zoning, 26 Parking Spaces, Private Parking Lot, High 10’ Ceilings, Elevator, CAC, ++!!
- Neighbors Include Starbucks, Verizon, UPS, Stop & Shop, CVS, Walgreens, Roslyn Savings Bank, 7-Eleven, Dunkin’, Friendly’s, Lukoil, McDonald’s, +++!!!
- This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or Home For Your Business!!!
Executive Summary
Calling All Investors, Developers & End-Users!!! 10.31 Cap 12,750 Sqft. Corner Medical Office Building With Private Parking Lot For Sale!!! The Building Features Excellent Signage, Great Exposure, Strong Zoning, 26 Parking Spaces, Private Parking Lot, High 10’ Ceilings, Elevator, All New LED Lighting, Sprinklers, 3 Phase Power, CAC, +++!!! The Property Is Located In Massapequa On N. Broadway Just 5 Blocks From The Southern State Pkwy.!!! Neighbors Include Starbucks, Verizon, UPS, Stop & Shop, CVS, Walgreens, Roslyn Savings Bank, 7-Eleven, Dunkin’, Friendly’s, Lukoil, McDonald’s, Ralph’s Famous Italian Ices, Domino’s, Burger King, Lidl, +++!!! This Property Has A Daily Traffic Count Of 23,600+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or Home For Your Business!!!
Income:
2nd Floor:
Medical Office: $264,000 Ann. 3% Ann. Inc.; Lease Exp.: 3/1/2029
1st Floor:
Gynecologist (1,900 Sqft.): $51,600 Ann. 3% Ann Inc.; Lease Exp.: 1/1/26 + (2) Additional 5 Year Options
Medical Lab (700 Sqft.): $28,800 Ann. (Available)
LL Office (2,800 Sqft.): $68,800 Ann. (Available)
Total Gross Income: $413,200 Ann.
Expenses:
Electric: $2,400 Ann. (Common Areas Only)
Gas: $0 Ann. (Common Areas Only)
Insurance: $12,000 Ann.
Maintenance & Repairs: $10,000 Ann.
Dumpster: $3,600 Ann.
Elevator: $1,200 Ann.
Taxes: $90,244.65 Ann.
Total expenses: $119,444.65 Ann.
Net Operating Income (NOI): $293,756 Ann. (Pro Forma 10.31 Cap!!!)
Income:
2nd Floor:
Medical Office: $264,000 Ann. 3% Ann. Inc.; Lease Exp.: 3/1/2029
1st Floor:
Gynecologist (1,900 Sqft.): $51,600 Ann. 3% Ann Inc.; Lease Exp.: 1/1/26 + (2) Additional 5 Year Options
Medical Lab (700 Sqft.): $28,800 Ann. (Available)
LL Office (2,800 Sqft.): $68,800 Ann. (Available)
Total Gross Income: $413,200 Ann.
Expenses:
Electric: $2,400 Ann. (Common Areas Only)
Gas: $0 Ann. (Common Areas Only)
Insurance: $12,000 Ann.
Maintenance & Repairs: $10,000 Ann.
Dumpster: $3,600 Ann.
Elevator: $1,200 Ann.
Taxes: $90,244.65 Ann.
Total expenses: $119,444.65 Ann.
Net Operating Income (NOI): $293,756 Ann. (Pro Forma 10.31 Cap!!!)
Financial Summary (Actual - 2022) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$413,200
|
$32.41
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$413,200
|
$32.41
|
| Taxes |
$90,244
|
$7.08
|
| Operating Expenses |
$29,200
|
$2.29
|
| Total Expenses |
$119,444
|
$9.37
|
| Net Operating Income |
$293,756
|
$23.04
|
Financial Summary (Actual - 2022)
| Gross Rental Income | |
|---|---|
| Annual | $413,200 |
| Annual Per SF | $32.41 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $413,200 |
| Annual Per SF | $32.41 |
| Taxes | |
|---|---|
| Annual | $90,244 |
| Annual Per SF | $7.08 |
| Operating Expenses | |
|---|---|
| Annual | $29,200 |
| Annual Per SF | $2.29 |
| Total Expenses | |
|---|---|
| Annual | $119,444 |
| Annual Per SF | $9.37 |
| Net Operating Income | |
|---|---|
| Annual | $293,756 |
| Annual Per SF | $23.04 |
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
12,750 SF
Building Class
B
Year Built/Renovated
1969/2016
Price
$2,850,000
Price Per SF
$224
Cap Rate
10.31%
NOI
$293,756
Percent Leased
73%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
6,375 SF
Slab To Slab
11’
Building FAR
1.28
Land Acres
0.23 AC
Zoning
Professional Building
Parking
26 Spaces (2.04 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bus Line
- Commuter Rail
- Fenced Lot
- Security System
- Signage
- Storage Space
- Basement
- Central Heating
- High Ceilings
- Natural Light
- Monument Signage
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Condition
- Available
- 1st Floor
- 700 SF
- Retail
- -
- Now
- 1st Floor
- 2,788 SF
- Retail
- -
- Now
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 700 SF | Retail | - | Now |
| 1st Floor | 2,788 SF | Retail | - | Now |
1st Floor
| Size |
| 700 SF |
| Space Use |
| Retail |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size |
| 2,788 SF |
| Space Use |
| Retail |
| Condition |
| - |
| Available |
| Now |
1 of 1
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 2489-52-527-00-0235-0 | Total Assessment | $13,196 (2024) |
| Land Assessment | $1,706 (2024) | Annual Taxes | $90,244 ($7.08/SF) |
| Improvements Assessment | $11,490 (2024) | Tax Year | 2022 |
PROPERTY TAXES
Parcel Number
2489-52-527-00-0235-0
Land Assessment
$1,706 (2024)
Improvements Assessment
$11,490 (2024)
Total Assessment
$13,196 (2024)
Annual Taxes
$90,244 ($7.08/SF)
Tax Year
2022
-
Matthew Shane -
All Island Commercial
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1061 N Broadway
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