120 W Park Ave 34,270 SF 100% Leased Office Building Long Beach, NY 11561 $7,328,580 CAD ($213.85 CAD/SF) 6.91% Cap Rate

120 West Park Avenue, a fully renovated, three-story Class B office building strategically located in the heart of Long Beach, New York, offers investors a unique opportunity to acquire a stabilized, modern office asset in one of Long Island’s most vibrant coastal cities. Its combination of stable tenancy, renovated infrastructure, rooftop amenities, strong commuter accessibility and rare parking availability positions it as a premier offering in the Long Beach commercial market.
Originally constructed in 1962 and modernized in 2018, the building is designed for flexible multi-tenant occupancy. The property combines modern aesthetics with superior functionality, providing a strong foundation for a range of professional uses, including office, medical, wellness, and boutique service operations. More than 50% of the building is occupied by a well established Co-working/shared space operator. The Ground floor retail tenant is occupied by F45 fitness chain, which operates in over 67 countries. Some of the remaining tenants are currently paying below market rents, representing significant upside potential.
With its location across from the train station and within walking distance of retail, dining, and oceanfront leisure, the property appeals to a wide range of tenants seeking convenience and lifestyle integration. This asset represents both a secure long-term investment and an opportunity for value-add growth in a dynamic market.
Investment Highlights:
Tenancy - Stable tenancy with below market rents representing significant upside, in addition to a well-run Co-work space
Prime Location – Situated directly across from the Long Island Rail Road (LIRR) station, offering immediate commuter access to Manhattan and the greater Long Island region. Just two blocks from the Atlantic Ocean, Long Beach Boardwalk, and beachfront amenities, enhances tenant lifestyle appeal.
Modern Renovations – Recent upgrades include new storefront windows, refreshed exterior, and updated building systems, presenting a turn-key investment.
Flexible Tenancy – Configurable layouts accommodate multi-tenant or full-floor occupancy. Suites are adaptable for office, therapy, medical, or spa-style use.
On-Site Parking – Rare for Long Beach, the property features 18 on-site spaces, supplemented by abundant municipal and street parking nearby.
Unique Amenity – A rooftop common area and meeting space, the only outdoor workspace of its kind in Long Beach, enhancing tenant experience and marketability.
Walkable Urban Environment – Exceptional Walk Score of 89, with Starbucks, CVS, Stop & Shop, banks, restaurants, and retail all within steps. The property is just blocks from the iconic beach and boardwalk.