529 Lake Ave
Saint James, NY 11780

The subject property is located on the eastbound side of Lake Avenue in St. James NY, just a few steps from the St. James railroad station. The building is comprised of two apartments and three retail spaces. The Dog Groomer tenant has been at this location for five years and has a great business. If you ask her she will tell you she is very happy at this location. The two vacant retail spaces have been combined to make one larger space as shown on the rent roll but could easily be subdivided creating smaller retail units which would be easier to lease up. We have projected the vacant retail space at $16 psf gross. We feel this is a very conservative rent which a new owner should be able to surpass. This property is located only 250 feet away from the St. James LIRR train station. Should public sewers come to this location, which has been in the news and can be researched further, the value here would increase tremendously. National and regional retailers in the area include King Kullen, BP Fuel, TD Bank,, 7-Eleven, and many more.