Greenlawn Retail for Sale - Western Suffolk
Select Real Equity Advisors, LLC (“SREA”) has been retained by the (“Owner”) on an Exclusive Basis to handle the sale transaction for the +/-18,018 SF Retail/Mixed Use, +/- 1 acre property, located at 52-54 Broadway, Greenlawn, Suffolk County, NY, (“52-54 Broadway”). 52-54 Broadway is optimally positioned in the center of Greenlawn Village’s commercial district with restaurants, shopping and medical/professional offices - all of which are supported by and service the strong area demographics. The property features a large private parking lot to serve the tenants and their customers. The property is a very short walk to the Long Island Rail Road’s Greenlawn station, with rail service to New York City.
Located in Western Suffolk County, on Long Island’s desirable North Shore, 52-54 Broadway has desirable area demographics of approximately 85,000 people with average family incomes of $198,190 living within three miles.
The offering is comprised of 2 tax lots with the 2-story building materially functioning as one structure. The property has 6 retail storefronts (+/-9,009 sf) and is occupied with a mix of community-oriented businesses with long-term retail tenants such as Healy’s Restaurant & Inn and Beau’s Bar, along with a nail salon and an attractive fully leased co-working space. The building’s operational efficiency has been improved through the installation of networking, video monitoring and digital lock system. The second floor was completely renovated in 2023/24 with more than $1,000,000. invested (see enclosed info) and was designed to offer significant floor plan flexibility for future tenants. Along with an appx. 1,000 sf of retail space, The Compliancy Group “CG” (a SAAS company for the medical profession) had leased the entire +/-9,009 sf second floor. The company was sold and they vacated in the summer of 2025, allowing new ownership to direct their vision for this well-located asset. The ProForma reflects an average Gross Rent of $30.43 psf while a current CoStar analysis reports the Western Suffolk NNN asking rent at $37.81 psf. New ownership may realize the opportunity to enhance net income growth through optimizing leasing, management and operations. In addition, there is a basement area of +/-2,350 sf that may be monetized with storage rental income, providing the opportunity to further enhance future NOI.
This +/- 1 acre property has ample surface parking at the rear of the building, as well as street parking on Broadway. 52-54 Broadway is located within the Town of Huntington and appx. 70% of the property is zoned C-6 commercial with appx. 30% of the rear of the property zoned R-5. The C-6 zoning permits a variety of uses including retail, medical and professional offices, as well as apartments (see details enclosed). There may be the ability to create a lobby with an elevator in the space that is currently vacant first floor space.
