A retail property in Melville has sold for $3.3 million.
505 WW Holdings LLC, an entity registered to a Roslyn-based real estate investment group, purchased the 9,200-square-foot building on 1.16 acres at 505 Walt Whitman Road.
The property is fully occupied by two tenants, Steinway Piano Gallery and Grace Music.
The sale price equates to a 7 percent cap rate.
Michael Gronenthal of Douglas Elliman Commercial represented the buyer, while Ted Trias served as in-house representative for the seller, Rechler Equity Partners, in the sales transaction.