Broadhollow Business Centre
1111 Broadhollow Road Farmingdale NY 11735
The building is just over 45,000 square feet on 3.30 acres with parking for 254 cars. There are two curb cuts on Broadhollow Road and one on Great Neck Road at a traffic light. Based on the property’s close proximity to the Southern State Parkway, it has the potential for redevelopment into mixed use apartments or other specialty uses like self storage. It is walking distance from GreyBarn, a 500 unit mixed use retail / multifamily apartment complex. Monthly rents range from $2,895 per month for a one bedroom to $3,500 per month for a 2 bedroom apartment. Retail stores are renting for $35-$36 per square foot gross. The building has approximately a 12% vacancy factor with no accounting for any pro-forma income at all. Many of the units are small and easy to backfill as demand for small office space is high. The property is located just off of the Southern State Parkway with only one other office building in the area. This is the only office building with main road frontage on Broadhollow Road. Many of the rents are low on a per square foot basis and the building has been meticulously maintained. Priced at a 7.03% cap on actual income, this property should appeal to many different investor types.