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$ 1,500,000
Est. payment | /mo
0.32 Acres Lot
$ 1,500,000
Est. payment | /mo
0.32 Acres Lot
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 1000583
Rental Info No
Year Built 1925
Annual Tax Amount $6,831
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type Mixed Use
Source onekey2
Property Description
Unique investment opportunity in Suffolk County featuring two adjacent lots with a total of three residential rental homes and an established auto repair shop. One parcel includes two homes: a two-story, four bedroom residence and a three bedroom ranch. The second parcel offers a two-story, two bedroom home along with the auto repair facility.
All units are currently tenant occupied, with tenants responsible for their own electric and heat, providing ease of management and predictable expenses. The property generates a combined annual rent roll of $127,000.00 with low taxes contributing to an estimated NOI of $108,206.00. This results in an attractive 7.21% cap rate making it a strong income-producing asset with multiple revenue streams. Owner will consider offers for one lot, 94 and 92 or 90 and 90A.
All units are currently tenant occupied, with tenants responsible for their own electric and heat, providing ease of management and predictable expenses. The property generates a combined annual rent roll of $127,000.00 with low taxes contributing to an estimated NOI of $108,206.00. This results in an attractive 7.21% cap rate making it a strong income-producing asset with multiple revenue streams. Owner will consider offers for one lot, 94 and 92 or 90 and 90A.
Location
State NY
County Suffolk County
Rooms
Basement Unfinished
Interior
Heating Hot Water, Oil
Cooling None
Flooring Combination
Fireplace No
Exterior
Parking Features Driveway, Unassigned
Fence Back Yard, Front Yard
Utilities Available Electricity Connected, Trash Collection Private, Water Connected
Building
Foundation Other
Sewer Cesspool
Water Public
Structure Type Frame,Other,Stucco
Schools
High Schools Riverhead
School District Riverhead
Others
Special Listing Condition None
Listed by H & G Realty New York • Joseph Cordani CBR
NEARBY SCHOOL & BUSINESS
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