Kids/Family Entertainment Center on 2+ Acres
Only your imagination limits what can be done with this extraordinary property and kids entertainment center. Both this profitable large children’s play center and almost 2 ½ acres in the heart of Long Island with over 130 parking spaces is for sale. In real estate there is the golden rule Location, Location, Location, then this AAA 40,000 + square foot rentable space is a VERY RARE opportunity on Long Island. They have a very highly visible location with tremendous exposure and traffic count on a major road in a densely populated area that is also a hub for commercial activity, near major highways. The entertainment center has numerous private party rooms of all sizes for birthday parties, bar-bat mitzvahs, sweet 16’s, and corporate events. They have it all from open play, to camp activities, dinning, birthday parties and team building fun events. The real estate opportunity is HUGE as the current facility still has close to 20% of rentable space. The real estate with the current vacancy rate is priced at a cap rate of 6.2, however even on a conservative model with below market value rents the cap rate is between 7.3 and 8.3. The right owners, with the right vision, have a great opportunity to potentially double the value of the building in just a few years as the location is incredible and the business has tremendous room for growth. A profitable kids entertainment business is currently the tenant in the building, but the property zoning allows it be used for medical, commercial offices, retail, or industrial. A new owner’s vision for the property may lead to a new owner repurpose the current use of the facility, as the location’s visibility, size, parking, convenience make this an incredible real estate opportunity.
If you have interest and the proper expertise, please contact us regarding listing number 14255.