Commercial Real Estate in Long Island NY

2 Replies

Hi New York BP community! Is it worth investing in Long Island retail/office for cash flow? Running the calculators, most of the properties I looked at show I won't make back my initial cash investment until year 10, primarily because of the high NY prices (I would be getting a mortgage on the property).
My investing goal is to maximize cash flow through retail or small office spaces, but it seems counter productive to put out a bunch of cash up front that I'm not making back for a decade. Wondering if anyone has been investing in Long Island successfully who may be able to provide some much needed clarity. Or, should I be looking outside the area to start my investment journey?

Hi Fred

The NYC area is a tough market to begin with, but the uncertainties of commercial space after Covid make it much more difficult.  Personally, I am not bullish on LI commercial space at the moment.  A lot of retail transactions have moved online, and a lot of LI jobs are the type that can be done from home.  I’m not saying that people don’t want to get back in their offices, but I think there will be some shrinkage of this space.

If you’d like to talk real estate with other people from our area, check out our upcoming event listed on Bigger Pockets:

It will only be 40 minutes.