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    393 S Franklin Street

    Hempstead, NY 11550
    • $1,690,000
    • STATUS: Active
    • ON SITE: 37 days
    • MLS #: 3244535
    $1,690,000
    • 0
      BEDS
    • 0.34
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Commercial
    Built:
    1972
    County:
    Area:

    School Ratings & Info

    Description

    Buyer buys building for $1.69M and acquire ongoing (20 years in business) wholesale Dry Cleaning business for free. The business alone is valued at $1.2M - $1.5 M. Many options for the investor: if the buyer leases the business to someone who wants to own the business and charges $0 for the business, the new tenant, in lieu of acquiring an ongoing business for $0 or given a gift of $1M++, would pay a premium rent of $16/sqft AAA Net. Projected Inc: Building 10,000 sqft @$16/sqft=$160,000/Yr (9.5% cap). 15ft Ceiling.

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    © 2020 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Frank Schiavone with William Raveis Real Estate. Data last updated: 2020-09-27T00:16:38.947.
    www.frankschiavone.com/homes/109181188
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    393 S Franklin Street Hempstead, NY 11550

    • Price: $1,690,000
    • Status: Active
    • MLS #: 3244535
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.34
    Acres
    1972
    Built
    Neighborhood:
    Hempstead
    County:
    Nassau
    Area:
    Hempstead
    Property Description
    Buyer buys building for $1.69M and acquire ongoing (20 years in business) wholesale Dry Cleaning business for free. The business alone is valued at $1.2M - $1.5 M. Many options for the investor: if the buyer leases the business to someone who wants to own the business and charges $0 for the business, the new tenant, in lieu of acquiring an ongoing business for $0 or given a gift of $1M++, would pay a premium rent of $16/sqft AAA Net. Projected Inc: Building 10,000 sqft @$16/sqft=$160,000/Yr (9.5% cap). 15ft Ceiling.
    Exterior Features

    Building Size 9646 Business Parking Spaces 10 Loading Dock YN No

    Interior Features

    Ceiling Height Y Cooling YN No

    Property Features

    Business Type Warehouse Net Operating Income 400000.00 Property Sub Type Warehouse Property Type Commercial Sale Tax Annual Amount 0.00 Tax Block 11 Zoning Description Commercial

    Listing courtesy of Kevin Kim of Douglas Elliman Real Estate.
    © 2020 OneKey MLS. All rights reserved.


    © 2020 OneKey MLS. All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Frank Schiavone with William Raveis Real Estate. Data last updated: 2020-09-27T00:16:38.947.
     
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    Frank Schiavone with William Raveis Real Estate
    45 Field Point Rd.
    Greenwich CT, 06830