47-49 ATLANTIC AVE LYNBROOK | NY 11563 47-49 ATLANTIC AVENUE LYNBROOK | NY 11563 Fully-Leased Single Story Retail Building at LIRR Station
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ASKING PRICE $665,000 FULLY-LEASED SINGLE STORY RETAIL BUILDING AT LIRR STATION 47-49 ATLANTIC AVE LYNBROOK | NY 11563 47-49 ATLANTIC AVENUE LYNBROOK | NY 11563 Fully-Leased Single Story Retail Building at LIRR Station ASKING PRICE $665,000 PROPERTY DESCRIPTION PROPERTY INFORMATION Cushman & Wakefield has been exclusively retained to LOCATION North side of Atlantic Ave. sell a two-unit fully-leased single-story retail building between 132nd and 133rd at 47-49 Atlantic Avenue, Lynbrook. Street The property consists of two long term tenants: SECTION / BLOCK / LOT 9375 / 261 Old Country Jerky and Halal Boyz. Old Country 3,659 (Approx.) Jerky has put significant money into renovations/ GROSS LOT SF equipment and is in the process of getting approvals BUILDING INFORMATION for commercial wholesale distribution. Old Country Jerky was approved for wholesale distribution, and is BUILDING SF 2,600 (Approx.) currently working around the clock to keep up with demand. They are now selling online, and granted STORIES 1 FDA approval to sell in all big box stores. TENANTS Old Country Jerky & Halal Boyz Halal Boyz has a brand new 10 year lease with (1) five- year extension. Halal Boyz is run by an experienced ZONING INFORMATION operator with multiple locations in New York including ZONING Industrial (I) the Kennedy Fried Chicken Restaurant Chain. TAX INFORMATION Both tenants pay for their own utilities and maintenance of their spaces. Ownership is responsible ASSESSMENT (2021) $2,755 for real estate taxes, insurance, roof and structure, only. Roof, HVAC units, windows, and stucco were TAXES (2021) $23,937 recently replaced/renovated. 47-49 Atlantic Avenue is ideally located just off Sunrise Highway and steps from the Lynbrook - LIRR Station. A new 1,600 seat movie theater recently opened less than one block away and approvals for a 80-unit condominium unit is located just two blocks away. Old Country Jerky was approved for wholesale distribution, and is currently working around the clock to keep up with demand. They are now selling online, and granted FDA approval to sell in all big box stores. Please do not disturb tenants, Property inspections are arranged by appointment only. FOR ADDITIONAL INFORMATION AND CONFIDENTIALITY AGREEMENT, PLEASE CONTACT EXCLUSIVE CUSHMAN & WAKEFIELD AGENTS: Kevin Louie Charlie Dupont Director Associate 718 512 2627 718 512 2602 [email protected] [email protected] FINANCIAL SUMMARY REVENUE MONTHLY ANNUAL RENT TENANT SQ. FT. P.P.S.F. LXP OPTIONS RENT RENT ESCALATION 5 year option (4% increases Old Country Jerky 1300 $30.46 $3,465 $41,580 2024 3% during option period) 5 year option (4% increases BUILDING SF 2,600 (Approx.) Halal Boyz 1300 $24.92 $2,780 $33,360 2030 3% during option period) STORIES 1 TOTAL $6245 $74,940 TENANTS Old Country Jerky & Halal Boyz EXPENSES REAL ESTATE TAXES $23,937 ZONING Industrial (I) INSURANCE $2,400 TOTAL $26,337 ASSESSMENT (2021) $2,755 NET OPERATING INCOME: $48,603 TAXES (2021) $23,937 LOCATION MAP HEMPSTEAD JAMAICA SOUTHERN STATE PARKWAY RICHMOND HILL SOUTHERN STATE PARKWAY SUNRISE HIGHWAY VALLEY STREAM BELT PARKWAY ROCKVILLE CENTRE HOWARD BEACH SUNRISE HIGHWAY LYNBROOK JFK INTERNATIONAL AIRPORT.