Bay Shore retail strip trades for $3.8M

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By Dan Sears

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A retail strip center in Bay Shore has sold for $3.8 million. 

Holbrook-based Freedom Income Properties purchased the 15,000-square-foot retail strip building on 2 acres at 1746-1766 Sunrise Highway.  

The shopping strip, known as South Shore Plaza, is fully occupied by a mix of tenants including Caribbean Blue Aquatics, I Love Kickboxing, KTO Cuisine, Super Sudz and others. The sale price equates to a 6.7 percent cap rate.  

Founded in 2015, Freedom Income Properties owns a mix of office, industrial and retail properties on Long Island. 

Joe Graziano, a managing principal of Freedom Income Properties, served as in-house representative for the buyer, while Tara Wright and Eileen Familia of Howard Hanna|Coach Realtors represented the seller, Progressive Housing Corp., in the Bay Shore sales transaction. 

“We saw this as a long-term asset in the Bay Shore community because of the recent influx of development of new multifamily properties and medical offices,” Graziano said.  

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