633 Eagle Ave
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633 Eagle Ave
40,020 SF Specialty Building Offered at $12,999,000 at a 12.37% Cap Rate in West Hempstead, NY 11552
Investment Highlights
- Calling All Investors, Developers, & End-Users!!! Once In A Lifetime Opportunity To Own A State Of The Art Equestrian Center + 25 Acre Upstate Annex!!
- The Property Also Features 30,000 Sqft. Steel Insulated Building W/40’ Ceilings, 63 Stalls, Excellent Signage, Great Exposure, Storage Area, +++!!!
- Neighbors Include The Home Depot, Stop & Shop, CubeSmart Self Storage, Dunkin’, CVS, Regal Cinemas, Lidl, +++!!!
- The Property Features A Newly Built Indoor Equestrian Center, 775 Acres Of Permitted Land, 3 Adjoining Rental Homes, State Park Permit, +++
- The Property Is Located In The Heart Of West Hempstead & Is The Only Equestrian Center In The Area!!!
- A 20 Acre Upstate Annex With A 3,500 Sqft. Farm House + 15,000 Sqft. Barn Can Be Bought In Addition For Only $300k!!!
Executive Summary
Calling All Investors, Developers, & End-Users!!! Once In A Lifetime Opportunity To Own A State Of The Art Equestrian Center + 25 Acre Upstate Annex!!! The Property Features A Newly Built Indoor Equestrian Center, 775 Acres Of Permitted Land, 3 Adjoining Rental Homes, State Park Permit, 30,000 Sqft. Steel Insulated Building W/40’ Ceilings, 63 Stalls, Excellent Signage, Great Exposure, Storage Area, Classroom, Tack Room, 80x160 Arena, Strong Zoning, 42 Parking Spaces, Separate Meters, 11,000 Sqft. Mezzanine, 6 Lots, Sprinkler System, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of West Hempstead & Is The Only Equestrian Center In The Area!!! The Property Is Situated 2 Blocks From Lakeview LIRR Station, 1 Block From Southern State Parkway & 5 Miles From JFK Airport!!! Neighbors Include The Home Depot, Stop & Shop, CubeSmart Self Storage, Dunkin’, CVS, Regal Cinemas, Lidl, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! A 20 Acre Upstate Annex With A 3,500 Sqft. Farm House + 15,000 Sqft. Barn Can Be Bought In Addition For Only $300k!!!
Income:
Business (2024 Projected): $2,000,000 Gross; $1,000,000 Net
Equestrian Center (41,000 Sqft.): $396,459.96 Ann.
4 Br., 3 Bath House (2,200 Sqft.): $48,000 Ann.
4 Br., 2.5 Bath House (2,000 Sqft.): $45,600 Ann.
3 Br., 2 Bath House (2,000 Sqft.) : $42,000 Ann.
625 Eagle Ave. Classroom (1,300 Sqft.): $60,000 Ann.
Upstate 5 Br., 2 Bath House (3,500 Sqft.): $21,600 Ann. (Available)
15,000 Sqft. Barn + Farm (19 acres): $18,000 Ann. (Available)
Pro Forma Gross Income: $2,631,659.96 Ann.
Expenses:
Insurance: $9,817 Ann.
Taxes: $14,000 Ann.
Business Expenses: $1,000,000 Ann.
Total Expenses: $1,029,817 Ann.
Pro Forma Net Operating Income (NOI): $1,607,843 Ann. (Pro Forma 12.37 Cap!!!)
Income:
Business (2024 Projected): $2,000,000 Gross; $1,000,000 Net
Equestrian Center (41,000 Sqft.): $396,459.96 Ann.
4 Br., 3 Bath House (2,200 Sqft.): $48,000 Ann.
4 Br., 2.5 Bath House (2,000 Sqft.): $45,600 Ann.
3 Br., 2 Bath House (2,000 Sqft.) : $42,000 Ann.
625 Eagle Ave. Classroom (1,300 Sqft.): $60,000 Ann.
Upstate 5 Br., 2 Bath House (3,500 Sqft.): $21,600 Ann. (Available)
15,000 Sqft. Barn + Farm (19 acres): $18,000 Ann. (Available)
Pro Forma Gross Income: $2,631,659.96 Ann.
Expenses:
Insurance: $9,817 Ann.
Taxes: $14,000 Ann.
Business Expenses: $1,000,000 Ann.
Total Expenses: $1,029,817 Ann.
Pro Forma Net Operating Income (NOI): $1,607,843 Ann. (Pro Forma 12.37 Cap!!!)
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$631,660
|
$15.78
|
| Other Income |
$2,000,000
|
$49.98
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$2,631,660
|
$65.76
|
| Taxes |
$14,000
|
$0.35
|
| Operating Expenses |
$1,009,817
|
$25.23
|
| Total Expenses |
$1,023,817
|
$25.58
|
| Net Operating Income |
$1,607,843
|
$40.18
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $631,660 |
| Annual Per SF | $15.78 |
| Other Income | |
|---|---|
| Annual | $2,000,000 |
| Annual Per SF | $49.98 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $2,631,660 |
| Annual Per SF | $65.76 |
| Taxes | |
|---|---|
| Annual | $14,000 |
| Annual Per SF | $0.35 |
| Operating Expenses | |
|---|---|
| Annual | $1,009,817 |
| Annual Per SF | $25.23 |
| Total Expenses | |
|---|---|
| Annual | $1,023,817 |
| Annual Per SF | $25.58 |
| Net Operating Income | |
|---|---|
| Annual | $1,607,843 |
| Annual Per SF | $40.18 |
Property Facts
Amenities
- Bus Line
- Commuter Rail
- Signage
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 2089-35-425-00-0007-0 | Total Assessment | $15,069 |
| Land Assessment | $10,277 | Annual Taxes | $14,000 ($0.35/SF) |
| Improvements Assessment | $4,792 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2089-35-425-00-0007-0
Land Assessment
$10,277
Improvements Assessment
$4,792
Total Assessment
$15,069
Annual Taxes
$14,000 ($0.35/SF)
Tax Year
2024
zoning
| Zoning Code | residential b, recreation (residential b zoning , grandfathered in agricultural farm use , new commercial structure on property. built and CO in 2014) |
| residential b, recreation (residential b zoning , grandfathered in agricultural farm use , new commercial structure on property. built and CO in 2014) |
-
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All Island Commercial
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