Whether it be commercial or residential, the real estate mantra is still location, location, location. And for Mark Timpone, a partner in the commercial real estate firm of , Mineola qualifies as prime real estate, a gold mine for businesses or entrepreneurs to lease or buy buildings.
"Mineola, you can't beat it," said Timpone, who currently has three properties available for sale or lease in the village.
One of eight partners with the Farmingdlae-based firm, Timpone covers the Jericho Turnpike corridor in Nassau County west of Glen Cove Road. Within his territory, Mineola is in the sweet spot.
His firm has been "crazy busy" of late, he said. "The market picked up toward the end of the summer, which is an unusual time. We usually see a slowdown during the holiday season but we didn't get that this year. I have seen increased interest and activity as of late. Increased activity will typically lead to more deals getting done. More deals getting done will lead to a greater confidence in those sitting on the sidelines."
Mineola happens to be one of the slower markets in Timpone's territory but he knows that is temporary. "We are getting a lot of phone calls, a lot of inquiries but no deals yet," he said. "That will change."
Metro Realty lists three properties for sale in Mineola:
- 85 Washington Ave. – Timpone describes the location as great warehouse space with an interior loading dock. "Loading docks and high ceilings for small space are hard to come by," he said.
- 121 Jericho Turnpike – current tenant and owner is the flooring retailer . Jericho Turnpike in Mineola is especially prime location according to Timpone. Asked why a business would want to set up shop there, he said, "Mineola offers a company that needs exposure on one of Nassau County's main thoroughfares an opportunity to get that exposure inexpensively."
- 207 Elm Place – a bit out of the way, but Timpone sells the location as "a great manufacturing or assembly space with a loading dock" nonetheless.
"All three locations offer easy access to all points east and west on Long Island for passenger and commercial vehicles," Timpone said. "You can't beat Mineola."
What's great about Mineola, as residents know – and which Timpone uses as a selling point -- is its proximity to New York City and accessibility through the Long Island Rail Road, which means 35-minute train commutes to Manhattan. There is also and the government offices affiliated with .
The hospital and the businesses that it attracts "offers a great deal of opportunity to any company in a medical-related business ranging from medical space to warehouse space," Timpone said.
Based on the increased activity he is seeing, Timpone's outlook for 2011 is positive – both for Mineola and the rest of Long Island. "In my opinion this is a great time for a prospective buyers and or tenants to acquire space in western Nassau County," he said. "I see a great deal of opportunity right now. Landlords and sellers are interested in getting deals done."