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

376 Larkfield Road
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This Mixed-use property located in NY was sold for $6,200,000 almost 4 years ago. The broker of the deal was Daniel Abbondandolo

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.

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Deals
  • Location
    376 Larkfield Road, East Northport, Suffolk County, NY, USA376 Larkfield Road, East Northport, Suffolk County, NY, USA
  • Sale Price
    $6,200,000$6,200,000
    $405 PPSF$405 PPSF
  • Area
    15,298 SF15,298 SF
  • Asset Type
    Mixed-useMixed-use
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Daniel Abbondandolo

Daniel Abbondandolo

Deals59
Sold$319.4M

Agency

Cushman & Wakefield

Cushman & Wakefield

Agency
Deals4190
Volume$167B

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Deal Summary

SALE IMAGE: Daniel Abbondandolo DATE: 05/25/2021 ADDRESS: 376 Larkfield Road MARKET: Suffolk County ASSET TYPE: Mixed-use ~ ZONING: C-6 BROKER: Daniel Abbondandolo @TeamAbbs @CushWake ASKING PRICE: $6,500,000 SALE PRICE: $6,200,000 SF: 15,298 ~ PPSF: $405 CAP: 5.8% NOTE FROM @TeamAbbs: Team Abbondandolo successfully closed, 376 Larkfield Road, East Northport, for $6,200,000 - approx. 5.8% cap rate - $400 Per Sq. Ft. - $283,750 Per Unit (adjusted). The asset is a 15,298 SF fully upgraded, two story mixed-use building is comprised of retail on the ground floor, one studio, 6 one-bedrooms, 13 two-bedroom units and offers private on-site parking. The units are all free market, making the building a very stable investment asset. The property has been well maintained, with major upgrades throughout the building. All new mechanicals including electrical, plumbing, and boilers have been installed in 2020. Additionally, a new roof has been installed throughout the entire asset – keeping repairs and maintenance for the future buyer very minimal. For more information about this sale or to find out what your building is worth, please reach out directly: 👤Daniel Abbondandolo, Managing Director 📧 [email protected] 📱 631-425-1232

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