A 4,696 square foot retail strip center at 836-840 N Broadway in Massapequa sold for $1,050,000 in January 2024 at a 6.62% cap rate — $224 per square foot. The property sits at a signalized intersection on N Broadway, a Nassau County retail corridor with solid traffic counts. Multi-tenant strip, fully in place.
This is a good example of what a small-bay Nassau County strip mall trades for in the current market — low sixes to high sixes on cap rate depending on tenant mix and lease terms. If you own something similar and are thinking about your options, give me a call.