October 2016 Vol.9 Issue 2
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Dear Friends,
When we begin the process of representing a new client who wants to purchase their commercial real estate, we have a long intake session on their requirements, timetable and business. One element of site selection is the evaluation of future property appreciation and resale value. While it is rarely recognized by our clients, it will always be a consideration in our evaluation and recommendation of potential alternatives.
How we do that is the basis of this month's article, "
Buying for Resale Value." It reviews at length the five most important criteria in evaluating the possible resale value of commercial or industrial property. If all other variables are equal, I will always choose the property with the higher resale potential. And I will explain why you should too!
Autumn is my favorite time of year, so I am really enjoying the change in seasons. And school is back in session, so I am now starting my 5th year of mentoring at-risk kids at Walt Whitman High School. I am volunteering with Earn and Learn, a program founded and funded by my good friend, Jefry Rosmarin. We have a great group of kids this year, and they certainly keep us on our toes!
And a new Scouting year has also begun, so that is keeping me incredibly busy as well. This is the best time to get a son or daughter involved in Scouts - Cub Scouts and Boy Scouts for boys, and Venturing (high adventure) or Exploring (career exploration) for both boys and girls. If you would like more information for your child, please call me and I will get you started! Or you can go to
www.beascout.org for more information. And if you live in Suffolk County, please visit the website at
www.sccbsa.org for the great programs offered by our Council.
Oh, the possibilities!
David G. Hunt
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by David Hunt
Q:
We are in the market to purchase a 30,000 square foot industrial building suitable for light manufacturing and warehousing. What criteria should we consider in our purchase that will maximize the appreciation of the real estate in the future?
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Huntington, NY
3,000-Square-Foot Building For Sale
At Entrance to Walt Whitman Mall
________________________________________________
185 Waverly Avenue
Patchogue, NY
8,000-Square-Foot Building For Sale or Lease
Suitable for Medical, Office, Contractors, and Industrial
________________________________________________
Horseblock Road
Medford, NY
One Mile North of Long Island Expressway
Click image above for two-page property brochure.
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COMPANIES ON THE MOVE
Printex Packaging Corporation is moving to 555 Raymond Drive, Islandia...
PSI Group is moving to 200 Robbins Lane, Jericho...
Savoy Medical Supply is moving to 40 Rabro Drive, Hauppauge...
PODS
of New York
is moving to 120 Spagnoli Road, Melville...
Dicom USA is moving to 600 West John Street, Hicksville...
The International Society of Business is moving to 1051 Franklin Avenue, Garden City...
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COMPARABLE SALES IN THE LAST 12 MONTHS
City |
Address |
Property Type |
Size SF |
Office SF |
Acres Total |
Sold Price/SF |
Sold Date |
Bohemia |
110 Keyland Court |
Industrial
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2,400 |
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.06 |
$137.50 |
9/2/2016
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Amityville
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607 Albany Avenue |
Industrial |
13,137 |
1,800 |
.40 |
$87.54 |
9/1/2016 |
Bohemia |
519 Johnson Avenue |
Industrial
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20,000 |
4,000 |
1.34
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$91.25
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8/30/2016
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West Babylon
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111 Dale Street
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Industrial |
5,000 |
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1.25 |
$126.00
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8/23/2016
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Lindenhurst
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147 Albany Avenue |
Industrial |
7,000 |
600 |
.24 |
$96.43 |
8/11/2016 |
Freeport
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9 Niagara Avenue |
Industrial |
19,175
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$48.34 |
8/9/2016
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Commercial Real Estate
An Award-Winning Professional Practice
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HUNT- Solving Commercial Real Estate issues since 1973
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