Three-Tenant Industrial Properties | Two Buildings
118-120 Division Avenue, Blue Point, NY, USA Map
NEW PRICE: Essential Tenants | 100% Occupancy | Low Management | Logistical Access | 4% Annual Increases
Listing Price $1,950,000
| Status | Closed |
| Lease Type | Double Net |
| Property Type | Industrial |
| CAP Rate | 6.20% |
| GLA (Sq. Ft.) | 15,200 |
| NOI | $120,935 |
| Lease Term Remaining | Vary |
| Increases | 4% Annually |
| Options | Vary |
| State (BOR) | NY |
| Broker of Record | Susan Bands |
| License # (BOR) | 10311209023 |
Investment Highlights
- Subject Property Features 15,200-Square-Feet of Gross Leasable Area on a 1.09-Acre Lot
- Multi-Tenant Industrial Buildings are Fully Occupied with a Unique Mix of Essential Service-Based Tenants, With a Net Operating Income of $120,935
- Services Provided by the Tenants Include Heating, Ventilation, Air Conditioning and Plumbing, Catering to the Current New York Construction Boom
- Subject is Conveniently Located Within Minutes of Sunrise Highway (NY 27), with a Robust Traffic Count of 87,300 Vehicles Per Day, Nicolls Road (22,840 VPD) and Montauk Highway (15,00 VPD) (Source: NYSdot, 2019)
- Subject is Within Ten Minutes of Six Shopping Malls | Nearby National Retailers Include Home Depot, Aldi, Costco, Target, Staples, Stop & Shop, Best Buy, King Kullen and More
- Affluent Long Island Community With an Average Household Income of $121,500 Within Five Miles, Currently $30,000 Above the U.S. Average | The Median Household Income is Estimated to Increase by 14.4% in The Next Five Years
- Within Minutes of Two Long Island Rail Road Stations part of the Montauk Branch, the Patchogue Station (1.8 Miles) and the Sayville Station (3.6 Miles) | The Annual Ridership of the LIRR was 91 Million Passengers in 2019
- Nearby National Industrial Suppliers Include Grainger, Fastenal, Ferguson Plumbing Supply, Package All and More
Investment Overview
Marcus & Millichap, on behalf of Ownership as its exclusive advisor, is pleased to offer for sale the 100% interest in fee simple industrial investment at 118-120 Division Ave, Blue Point, NY 11715 (the “Property”). Built in 2007, the Property comprises two buildings totaling +/- 15,200 SF, that is strategically positioned to be easy to access Manhattan, 60 miles away, Brooklyn 53 miles away, and West Hempstead, only 40 minutes away. The Property benefits from it’s approved use, easy accessibility, and convenient location in a strong commercial and residential area located in Suffolk County, Long Island. The area is high income, with over 155,000 people within 5 miles and an average household income of $121,000.
