Collaborative Group is pleased to announce the sale of the Hewlett Plaza shopping center. Andrew Natter and Hal Fuchs represented both the buyer and seller in the $4.1M transaction.
The single-story strip center includes 13 stores in an L-Shape configuration and is located directly across from the Hewlett Train Station. The purchase price works out to an in place 7.3% cap rate. In addition to the excellent cash flow, there is potential to increase rents through cosmetic property improvements.
CGNYC 