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An office property in Ronkonkoma has traded for $1.6 million.
ADE Enterprises Corp. purchased a 13,700-square-foot office building on 1 acre at 5018 Express Drive South.
Constructed in 1980, the three-story building is fully leased. The property has parking for 56 vehicles.
The sale price equates to a 6.8 percent cap rate and the acquisition was facilitated through the Ten-X commercial real estate sales platform. New owner ADE plans on making upgrades to the property.
Ron Epstein of RC Commercial Partners represented the buyer, as well as the seller, Ronkonkoma Partners LLC, in the sales transaction.
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Image and article originally from libn.com. Read the original article here.