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$ 1,900,000
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3381 Merrick RD Wantagh, NY 11793
9,199 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 905669
Rental Info No
Year Built 1963
Annual Tax Amount $22,000
Lot Size 9,199 Sqft
Acres 0.2112
Property Sub-Type Other
Source onekey2
Property Description
Located in the heart of Wantagh, Long Island, this 5,000-square-foot strip mall sits on a 10,000-square-foot lot and features six retail units. The property currently has four established tenants, two of whom occupy two units each, offering immediate and stable cash flow. The total monthly rental income is $11,200, which equates to $134,400 annually.
Annual expenses include $22,000 in property taxes, $2,400 for water, and $6,800 in insurance, bringing total operating expenses to $31,200 per year. This results in a Net Operating Income (NOI) of $103,200. Based on an asking price of $1,900,000, the capitalization rate comes in at approximately 5.43%, offering investors a solid return in a highly sought-after market.
Over the next five years, assuming stable rents and expenses, the projected total return from NOI alone is $516,000. That equates to a 5-year return of 27.16% on the purchase price, not including appreciation or rent escalations — a strong yield in today's market.
Wantagh is one of Nassau County's most desirable and stable suburban communities, known for its high household incomes, top-rated schools, and vibrant local economy. Often referred to as the “Gateway to Jones Beach,” the area draws a mix of long-term residents and seasonal traffic. The property is positioned on a high-visibility, high-traffic road with close proximity to the Wantagh LIRR station and is surrounded by dense residential neighborhoods and a healthy mix of national chains and local retailers.
This fully leased strip mall is a turnkey investment opportunity with dependable income, long-term tenant relationships, and upside potential through rent increases or repositioning in a rapidly appreciating market
Annual expenses include $22,000 in property taxes, $2,400 for water, and $6,800 in insurance, bringing total operating expenses to $31,200 per year. This results in a Net Operating Income (NOI) of $103,200. Based on an asking price of $1,900,000, the capitalization rate comes in at approximately 5.43%, offering investors a solid return in a highly sought-after market.
Over the next five years, assuming stable rents and expenses, the projected total return from NOI alone is $516,000. That equates to a 5-year return of 27.16% on the purchase price, not including appreciation or rent escalations — a strong yield in today's market.
Wantagh is one of Nassau County's most desirable and stable suburban communities, known for its high household incomes, top-rated schools, and vibrant local economy. Often referred to as the “Gateway to Jones Beach,” the area draws a mix of long-term residents and seasonal traffic. The property is positioned on a high-visibility, high-traffic road with close proximity to the Wantagh LIRR station and is surrounded by dense residential neighborhoods and a healthy mix of national chains and local retailers.
This fully leased strip mall is a turnkey investment opportunity with dependable income, long-term tenant relationships, and upside potential through rent increases or repositioning in a rapidly appreciating market
Location
State NY
County Nassau County
Interior
Heating Baseboard
Cooling Central Air
Fireplace No
Exterior
Utilities Available Electricity Connected
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Special Listing Condition None
Listed by Ashford Homes 6 Inc • Yaling Lin