Select Real Equity Advisors, LLC presents our Exclusive Offering of the MacArthur Plaza Office Building in Holbrook, NY, located across from the entrance to the Long Island MacArthur Airport. MacArthur Plaza is a ±145,196 square foot, four story professional office building located on ± 6.03 acres of land with parking for ± 580 cars.
Several key points of investment consideration:
- MacArthur Plaza is 98% leased and is offered at an attractive cap rate of 7.5%, free and clear of existing financing at a below replacement cost price of $24,750,000 ($170 psf).
- Optimally located within the historically stable local marketplace, MacArthur Plaza will continue to offer an excellent value opportunity for area tenants. There are several exciting local development projects which are underway (and in the planning stages) and they will drive significant marketplace growth and add significant value to the Property.
- Recent $3.5mm capital improvement campaign, MacArthur Plaza is recognized as being in very good physical condition with little deferred maintenance.
- The average reasonable base rent of $18.85 psf will offer upside opportunity to the Purchaser.
- MacArthur Plaza has core tenancy that has been in occupancy for many years and should provide ownership with a predictable revenue stream.
- The property operates with an on-site sewage treatment plant that has significant excess capacity and provides ownership with the opportunity to lease to medical related tenancy or possibly sell capacity to nearby property owners.
- The ± 6.03 acre property is located in Islip Township and is zoned IND 1, the real estate markets most sought after industrial zoning designation.
- Excellent Vets Hwy frontage with traffic counts of 42,324 VPD. Very easy access to all major highways and modes of transportation and strong area demographics.
Please see the attached teaser along with the confidentiality agreement. Kindly execute and return the confidentiality agreement and I will forward the full offering memorandum to you.
We look forward to discussing this opportunity with you in greater detail.