92 Carleton AveCentral Islip, NY 11722

For Sale
$1,300,000

6,800 SF, 4 Units, 8.49% Cap Rate

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional mixed-use property at 92 Carleton Avenue in Central Islip, NY, presents a compelling investment opportunity. The 6,800 square foot, two-story building boasts four units: a ground-floor tire and wheel auto service center with a 16-year history at this location, and three residential apartments on the second floor. Each residential unit has individually metered electric and gas. The property includes 26 parking spaces, and the commercial tenant is responsible for snow removal. Located within the Downtown Revitalization Initiative (DRI) area, this highly visible site on Carleton Avenue benefits from approximately 19,000 vehicles passing daily. The strong demographics, with over 20,000 residents and nearly 450 businesses within a one-mile radius, ensure a stable tenant base. The property is offered at $1,300,000, with a Net Operating Income (NOI) of $110,411 and an attractive 8.49% cap rate. The building is zoned BU3 and offers a blend of commercial and residential income streams under a gross lease structure. This sale/leaseback opportunity provides immediate cash flow and significant long-term potential in a rapidly developing area. The property's location within the DRI area promises future growth and increased property value.

Highlights

  • Mixed-use property in Central Islip's Downtown Revitalization Initiative (DRI) area.
  • High visibility on Carleton Avenue, with approximately 19,000 vehicles passing daily.
  • Fully leased with a mix of commercial (tire and wheel service center) and residential tenants.
  • Strong demographics: over 20,000 residents and nearly 450 businesses within a one-mile radius.

Property Details for 92 Carleton Ave

Property type
Other mixed-use properties, Mixed-use properties
Square Feet
6,800 SF
Buildings
1
Stories
2
Units
4

Location Insight

City
Central Islip
County
Suffolk
State
New York
Latitude
40.786010719685
Longitude
-73.200920818896
92 Carleton Ave, Central Islip, New York

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92 Carleton Ave
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