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701 Walt Whitman RoadMelville, NY 11747
701 Walt Whitman Road
Asset ClassRetail, Mixed Use
Deal Size: $1.5 MSquare Feet: 3,000Access Data Room
Retail-Predominant Mixed-Use Asset w/ Disciplined Underwriting

Overview

Stonefield Real Estate has been exclusively retained to market 701 Walt Whitman Road, a gut-renovated mixed-use retail asset featuring strong in-place cash flow, new building systems, and on-site parking, located along one of Long Island’s most heavily trafficked commercial corridors.

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Investment Highlights

Completely Gut Renovated Retail-Predominant Mixed-Use Asset

• Substantial building renovations completed in 2022, including interiors, systems, and structural components.

• Upgraded by the owner-user, ensuring long-term durability and minimal capital expenditure needs.

• Minimal maintenance with new HVAC, boiler, and mechanical systems.

 

Owner-Occupied With Leaseback for Immediate Stability

• The property is currently owner-occupied and managed by OJ’s Barbershop.

• Seller intends to lease back the space at closing, preserving the presented cash flow and providing investors with a stable, predictable income stream.

 

Diverse Income Stream Across Multiple Units

• The building contains three retail units, offering flexible tenancy potential across service and neighborhood retail uses.

• Includes a single-family residential rental unit, providing residential income and contributing to favorable tax classification.

• Additional dedicated basement storage unit with private entrance, providing additional supplemental income.

 

Exceptionally Low Real Estate Taxes

• Because the property includes a residential rental unit, its tax classification results in materially lower real estate taxes compared to strictly retail properties in the submarket.

• Lower operating expenses directly increase investor returns and strengthen long-term performance.

 

Prime Walt Whitman Road Corridor Location

• Positioned along a major Suffolk County commercial artery with strong traffic counts and excellent visibility.

 

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701 Walt Whitman RoadMelville, NY 11747

RETAIL INVESTMENT SALES

215-15 Northern Boulevard, Suite 304, Bayside, NY 11361
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Listing provided by Revere CRE