Deer Park-based investor buys Copiague retail strip for $2.95 million, plans revamp

An investor with a background in construction has bought a retail strip in Copiague with plans to revamp the property. 

Deer Park-based 640 Oak Plaza LLC bought the strip for $2.95 million, said Ben Indiviglia, one of the listing agents for the property represented by Douglas Elliman. 

“He’s in the construction industry, so he purchased the property in efforts to fix it up a little bit, and get some new tenants in there, and increase overall value in the property,” said Indiviglia, who represents both the buyer and seller.

Rodney Ragen, who owns 640 Oak Plaza LLC is also the owner and president of Double R Contracting, which provides commercial contracting, electrical services and commercial security.

The 19,000-square-foot space is on 1.38 acres of land at 622-640 Oak St., and was constructed in 1947, according to the Douglas Elliman listing. 

The location provides businesses with "maximum exposure in this bustling commercial district," according to the listing. The strip is a 12-minute walk to the Long Island Rail Road Copiague station, and several chains, including Starbucks, 7-Eleven and Target.

What made this investment attractive was its potential, Indiviglia said. He described the transaction as an opportunity for the buyer to revamp the strip and bring in new tenants.

There are 10 units in the building, where at least six businesses are open. Among them are a laundromat, deli, karate academy and hair salon. Behind the strip on Lambert Avenue, there are about 50 parking spaces, according to the listing. 

As part of the new leases, Ragen said he "would love to see a new restaurant," one that is "more sit-down" rather than take-away, for area residents.