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1497-1507 Bellmore Ave. North Bellmore / Courtesy of American Investment Properties
By: David Winzelberg March 31, 2022
A retail property in North Bellmore has traded for $1.075 million.
The Nassau County-based real estate investment group of Bhavik Shah, Hitendra Shah and Kiran Shah purchased the 4,296-square-foot building on .24 acres at 1497-1507 Bellmore Ave.
The sale price equates to $250 a square foot and a 5.95 percent cap rate.
The strip of six retail spaces is fully occupied by a mix of tenants that includes Edible Arrangements, an Allstate Insurance office, Blue Iris clothing boutique, Queens Beauty Parlor and the Happy Pig Vegan Food and Market.
Ron Koenigsberg of American Investment Properties represented the buyers, as well as the seller, Harrison R. Hipper LLC, in the sales transaction.
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