Property Details

Overview

Calling All Investors, Developers, & End-Users!!! Once In A Lifetime Opportunity To Own A State Of The Art Equestrian Center + 25 Acre Upstate Annex!!!he The Property Features A Newly Built Indoor Equestrian Center, 775 Acres Of Permitted Land, 3 Adjoining Rental Homes, State Park Permit, 30, 000 Sqft. Steel Insulated Building W/40’ Ceilings, 63 Stalls, Excellent Signage, Great Exposure, Storage Area, Classroom, Tack Room, 80x160 Arena, Strong Zoning, 42 Parking Spaces, Separate Meters, 11, 000 Sqft. Mezzanine, 6 Lots, Sprinkler System, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of West Hempstead & Is The Only Equestrian Center In The Area!!! The Property Is Situated 2 Blocks From Lakeview LIRR Station, 1 Block From Southern State Parkway & 5 Miles From JFK Airport!!! Neighbors Include The Home Depot, Stop & Shop, CubeSmart Self Storage, Dunkin’, CVS, Regal Cinemas, Lidl, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Development Site Or The Next Home For Your Business!!! A 20 Acre Upstate Annex With A 3, 500 Sqft. Farm House + 15, 000 Sqft. Barn Can Be Bought In Addition For Only $300k!!! Income: Business (2024 Projected) $2, 000, 000 Gross; $1, 000, 000 Net Equestrian Center (41, 000 Sqft.): $396, 459.96 Ann. 4 Br., 3 Bath House (2, 200 Sqft.): $48, 000 Ann. 4 Br., 2.5 Bath House (2, 000 Sqft.): $45, 600 Ann. 3 Br., 2 Bath House (2, 000 Sqft.) : $42, 000 Ann. 625 Eagle Ave. Classroom (1, 300 Sqft.): $$60, 000 Ann. Upstate 5 Br., 2 Bath House (3, 500 Sqft.): $21, 600 Ann. (Available) 15, 000 Sqft. Barn + Farm (19 acres): $18, 000 Ann. (Available) Pro Forma Gross Income: $2, 631, 659.96 Ann. Expenses: Insurance: $9, 817 Ann. Taxes: $20, 000 Ann. Business Expenses: $1, 000, 000 Ann. Total Expenses: $1, 029, 817 Net Operating Income (NOI): $1, 601, 842.96 Ann. (Pro Forma 12.33 Cap!!!)