About 350 Veterans Memorial Highway
Calling All Investors, Developers & End-Users!!! 9.31 Cap 9,900+ Sqft. 6 Unit Office Building On A 23,900+ Sqft. Lot On Veterans Memorial Hwy. For Sale!!! The Building Features Excellent Signage, Great Exposure, O-B Zoning, 54 Parking Spaces, Private Parking Lot, High 8’ Ceilings, Conference Rooms, Separate Meters, Strategically Placed Curb Cut, Basement, Accessible Parking, Chair Lift, All New LED Lighting, 3 Phase Power, CAC, +++!!! The Property Is Located In The Heart Of Commack On Route 454 Just Off The Northern State Pkwy.!!! The Property Is Situated Only Minutes From The I-495 (LIE) + Sagtikos Pkwy.!!! Neighbors Include Starbucks, BMW, Mazda, Mitsubishi, The Home Depot, Walmart. Target, Costco, 7-Eleven, Dunkin’, LA Fitness, Planet Fitness, PetSmart, Whole Foods, Outback Steakhouse, Michaels, Burlington, Hobby Lobby. Friendly’s, Trader Joe’s, IHOP, +++!!! According To The Seller The Building Roof Is 5 Years Old With 35 Years Left On The Warranty!!! The Building Has 119’ Of Frontage On Busy Route 454!!! This Property Has A Daily Traffic Count Of 19,000+ Vehicles Per Day!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or The Next Home For Your Business!!!
Income:
2nd Floor:
Law Office (1,200 Sqft.): $27,828 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/25 + 2 Year Option.
Therapist (1,200 Sqft.): $27,816 Ann.; 3% Ann. Inc.; Lease Exp.: 9/1/30.
1st Floor:
Rear Unit (1,850 Sqft.): $61,050 Ann. (Available)
Front Unit (1,850 Sqft.): $61,050 Ann. (Available)
LL:
#1 Chiropractor: $50,400 Ann.; 5% Ann. Inc.; Lease Exp.: 9/1/26 + 3 Year Option.
#2A Dr. Mednick: $24,000 Ann.; 3% Ann. Inc.; Lease Exp.: 2030 + 3 Year Option.
#2B Dr. Silverman: $8,400 Ann.; 3% Ann. Inc.; Lease Exp.: 1/1/29.
Tax Rebates: $2,300 Ann.
Total Gross Income: $262,844 Ann.
Expenses:
Electric: $783 Ann. (Common Areas Only)
Gas: $0 Ann. (Common Areas Only)
Insurance: $3,859 Ann.
Maintenance & Repairs: $250 Ann.
Water: $386 Ann.
Garbage: $600 Ann.
Snow & Landscape: $890 Ann.
Taxes: $37,185.68 Ann.
Total Expenses: $43,953.68 Ann.
Net Operating Income (NOI): $218,890.32 Ann. (Pro Forma 9.31% Cap!!!)
