47 Franklin AVE Pending Save Request In-Person Tour Request Virtual Tour
Valley Stream,NY 11580
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
Rare Investment Opportunities!
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