Bohemia industrial flex property trades for $2.525M

An industrial/flex property in Bohemia has sold for $2.525 million. 

MGS LLC, an entity registered to a Westbury-based commercial real estate investor, purchased the 16,000-square-foot building on 1.5 acres at 1500 Ocean Ave. 

The multi-tenant building is fully occupied. The sale price equates to a 7 percent cap rate. 

Luciano Oliverio of Paramount Properties Group represented the buyer, while Matthew Shane of All Island Realty represented seller 1500 Ocean Avenue LLC in the sales transaction.