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4-12 Centre Avenue, Hempstead (East Rockaway), NY, 11518 | $3,575,000
Calling All Investors & Developers!!! 18 Unit Mixed-Use Property/ Development Site For Sale!!! The Property Features Excellent Signage, Great Exposure, 8 Buildings, Solid Tenants, 30+ Parking Spaces, 11 Apartments, 6 Stores & 1 Office, Separate Meters, New Roof, New Siding, New AC Units, New Hardwired Fire Alarms, New Appliances, New Bathrooms, +++!!! 4-12 Centre Avenue Is Situated On A HUGE 27, 718 Sqft. Lot!!! The Property Is Located The Heart Of East Rockaway; Only 100' Away From The Centre Avenue LIRR Train Station!!! Neighbors Include CVS, Wendy's, Chase, 7-Eleven, Dunkin', Stop & Shop, +++!!! This Property Offers HUGE UPSIDE Potential! This Could Be Your Next Investment Property/ Development Site!!! Income: 4 Upper (Huge 3 Br, 2 Bath Apt. ): $ 28, 200 Ann. ; M-M (Pro Forma $43, 800 Ann. ) (1, 682 Sqft. ) M-M. 4 Lower (Huge 2 Br, 1 Bath Apt. ): $20, 700 Ann. ; M-M (Pro Forma $34, 200 Ann. ) (1, 345 Sqft. ) M-M. 4B Commercial (Pet Groomer): $24, 840 Ann. ; Lease Exp. 3/31/25; 3% Ann. Inc. . (Pro Forma $30, 000 Ann. ) (944 Sqft. ) 4A Commercial (Jewelry Store): $13, 920 Ann. ; Lease Exp. M-M; 3% Ann. Inc. (Pro Forma $18, 600 Ann. ) (550 Sqft. ) 6 Upper (Large 1 Br, 1 Bath Apt. ): $24, 000 Ann. ; Lease Exp. 4/30/24 (Pro Forma $28, 800 Ann. ) (740 Sqft. ) 6 Lower (Large Studio Apt. ): $17, 268 Ann. ; M-M (Pro Forma $19, 800 Ann. ) (493 Sqft. ) 6 Commercial (Wedding Dress Couture): $10, 800 Ann. ; M-M. (Pro Forma $14, 400 Ann. ) (312 Sqft. ) 6 Office (312 Sqft. ): $9, 600 Ann. (Available) Yard: $36, 000 Ann. (Available) 8A (Large Studio Apt. ): $21, 600 Ann. ; M-M (439 Sqft. ) 8B (Large1 Br, 1 Bath Apt. ): $14, 100 Ann. ; M-M (Pro Forma $27, 000 Ann. ) (658 Sqft. ) 8C (Large Studio Apt. ): $16, 800 Ann. ; M-M (Pro Forma $19, 800 Ann. ) (439 Sqft. ) 8D (Large Studio Apt. ): $15, 600 Ann. ; M-M (439 Sqft. ) 8E (Large 1 Br, 1 Bath Apt. ): $17, 700 Ann. ; M-M (Proforma $26, 800 Ann. ) (658 Sqft. ) 8 Commercial (Convenience Store): $39, 000 Ann. ; Lease Exp. 12/31/25; 3% Ann. Inc. ; (Proforma $38, 400 Ann. ) (1, 100 Sqft. ) 8 Commercial (Pizzeria): $32, 400 Ann. ; Lease Exp. 12/31/24; 3% Ann. Inc. (782 Sqft. ) 8 Commercial (Elia's Couture): $21, 600 Ann. ; M-M (Proforma $36, 000 Ann. ) (782 Sqft. )1 12 Upper (2 Br, 1 Bath Apt. ): $28, 800 Ann. ; M-M (Available) (867 Sqft. ) 12 Lower (3 Br, 2 Bath Apt. ): $30, 600 Ann. ; M-M (Proforma $43, 200 Ann. ) (1, 146 Sqft. ) 12 Restaurant (Fusion II Deli): $31, 200 Ann. ; Lease Exp. 1/31/25; 3% Ann. Inc. (834 Sqft. ) Current Gross Income: $380, 328 Ann. Proforma Gross Income: $556, 000 Ann. Expenses: Gas: $9, 000 (Apartment Only Heat) Electric: $500 (Exterior Light Only) Maintenance & Repairs: $850 Insurance: $6, 300 Taxes: $104, 000 Water: $2, 000 Landscape: $0 Snow Removal: $800 Total Expenses: $123, 450 Ann. Net Operating Income (NOI): $432, 550 (Pro Forma 10. 95 Cap!!!)
Features
- Town: Hempstead
- Property Type: Mixed Use
- Current Use: Mixed Use
- Levels: 2
- Units: 18
- Zoning: 483.04
- Year Built: 1936
- Acreage: 0.64
- Est. Taxes: $104,000
- MLS#: 3542531
- Days on Market: 170 days
- Website: https://www.raveis.com
/prop/3542531/412centreavenue_hempstead_ny?source=qrflyer
William Raveis Family of Services
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Customer Service
888.699.8876
Contact@raveis.com
Our family of companies offer our clients a new level of full-service real estate. We shall:
- Market your home to realize a quick sale at the best possible price
- Place up to 20+ photos of your home on our website, raveis.com, which receives over 1 billion hits per year
- Provide frequent communication and tracking reports showing the Internet views your home received on raveis.com
- Showcase your home on raveis.com with a larger and more prominent format
- Give you the full resources and strength of William Raveis Real Estate, Mortgage & Insurance and our cutting-edge technology
To learn more about our credentials, visit raveis.com today.
Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.Alvarez@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
4-12 Centre Avenue, Hempstead (East Rockaway), NY, 11518
$3,575,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah Alvarez
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $2,860,000 | $2,860,000 | $2,860,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.000% | 5.875% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.963% | 5.983% | 5.805% |
| Monthly Tax Payment | $8,667 | $8,667 | $8,667 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $15,353 | $16,918 | $23,559 |
| Total Monthly Payment | $24,145 | $25,710 | $32,351 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535