Retail Asset - Disciplined Underwriting 701-705 Walt Whitman Rd 3 000 pi² Commerce de détail Immeuble Melville, NY 11747 2 065 335 $ CAD (688,44 $ CAD/pi²) 6,90% Taux de capitalisation

*PLEASE READ - DEAL PAGE & DATA ROOM LINKS BELOW*
Stonefield Real Estate has been exclusively retained to market 701 Walt Whitman Road, a gut-renovated mixed-use retail asset featuring strong in-place cash flow, new building systems, and on-site parking, located along one of Long Island’s most heavily trafficked commercial corridors.
Completely Gut Renovated Mixed-Use Asset
• Substantial building renovations completed in 2022, including interiors, systems, and structural components.
• Upgraded by the owner-user, ensuring long-term durability and minimal capital expenditure needs.
• Minimal maintenance with new HVAC, boiler, and mechanical systems.
Owner-Occupied With Leaseback for Immediate Stability
• The property is currently owner-occupied and managed by OJ’s Barbershop.
• Seller intends to lease back the space at closing, preserving the presented cash flow and providing investors with a stable, predictable income stream.
Diverse Income Stream Across Multiple Units
• The building contains three retail units, offering flexible tenancy potential across service and neighborhood retail uses.
• Includes a single-family residential rental unit, providing residential income and contributing to favorable tax classification.
• Additional dedicated basement storage unit with private entrance, providing additional supplemental income.
Exceptionally Low Real Estate Taxes
• Because the property includes a residential rental unit, its tax classification results in materially lower real estate taxes compared to strictly retail properties in the submarket.
• Lower operating expenses directly increase investor returns and strengthen long-term performance.
Prime Walt Whitman Road Corridor Location
• Positioned along a major Suffolk County commercial artery with strong traffic counts and excellent visibility.