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Posted: May 24, 2022
Silber Investment Properties broker $5.9 million sale of two adjacent free-standing buildings
Floral Park, NY Silber Investment Properties completed the sale of two adjacent free-standing buildings at 181-191 Jericho Tpke. The properties traded for $5.9 million.
Dylan Silber of Silber Investment Properties represented the seller, 181-191 Jericho Turnpike LLC. Adam Silber of Silber Investment Properties represented the buyer, a Carle Place based real estate investment firm.
The subject consists of a renovated Wendy's with a drive thru and an AT&T store with a recently exercised option. Both tenants are commited to this location. This property is block-to-block with a large parking lot and multiple points of entry and exit. The cap rate at the time of sale was 4.6%. Prior to the sale, this property had been family-owned for generations.
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