CushWake Sells 15,298 SF Mixed-Use Building On Larkfield Road In Suffolk County For $6.2M

The property at 376 Larkfield Road in Suffolk County has been sold. The mixed-use building is situated on a 15,298 square foot lot and is zoned as C-6. The asset includes retail space on the ground floor and a two-story structure with one studio, six one-bedroom, and thirteen two-bedroom units. The property offers private on-site parking and has undergone significant upgrades. The building is fully upgraded with new electrical, plumbing, and boilers installed in 2020. Additionally, a new roof has been installed throughout the entire asset, minimizing future repairs and maintenance. All units within the building are free market, providing stability to the investment.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $6,200,000
• Square Footage: 15,298
• Price Per Square Foot: $405
• Cap Rate: 5.8%
• Asking Price: $6,500,000
• Broker: Daniel Abbondandolo - Cushman & Wakefield

Daniel Abbondandolo from Cushman & Wakefield represented the parties involved in the transaction. He successfully closed the deal for a sale price of $6,200,000, resulting in a cap rate of approximately 5.8%. For more information about this sale or to inquire about the value of your own building, you can contact Daniel Abbondandolo directly. He can be reached at [email protected] or 631-425-1232.