Melvile, NY Commercial real estate services firm The Rochlin Organization announced the sale of 100 E Mineola Ave. for $1.75 million.
Located on East Mineola Ave. in Valley Stream, the building is a 21,365 s/f multi-tenanted industrial building with a 17,000 s/f lower level. The property sits on 0.83 acres and spans two blocks accommodating its 4-tenants.
Elizabeth Holmes of The Rochlin Organization represented the seller of the property in the transaction. “After an extensive marketing process, the buyer, Kay Development was attracted to the property because of its strong cash flow and ultimate upside potential. The existing tenants currently occupying the property provide a stable financial return over projected operating expenses”, said Holmes. “Kay Development is a seasoned investor and developer that will benefit from the leasing of vacant space and further assemble a tenant roster that will safeguard the long-term cash flow.”
“Elizabeth is a smart and diligent asset to our team here at the firm and we are proud to celebrate Elizabeth’s successes regularly,” said Adam Rochlin, principal of the firm.
Holmes said, “The Southern Nassau industrial market is currently exhibiting record low vacancy rates, and asset values are the highest in over a decade”.
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