Northport mixed-use property fetches $950K


A mixed-use property in Northport has sold for $950,000. 

Commack-based TJ Realty Investment Group purchased the 3,689-square-foot building on .26 acres at 525 Fort Salonga Road. 

The fully occupied building has two, two-bedroom rental apartments above two retail stores that are leased to Carvel and a nail salon. 

The sales price equates to a 5.97 percent cap rate. 

The buyer plans on extensive renovations to the building’s exterior. 

Matt Eberhardt of Select Real Equity Advisors represented the buyer, as well as the sellers, Annemarie and Martin Winter, in the sales transaction. 





Source link