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318 E Main St 25,800 SF 100% Leased Retail Building Patchogue, NY 11772 $2,800,000 ($108.53/SF) 5.60% Cap Rate
Investment Highlights
- Booming area of East Patchogue
Executive Summary
The property consists of 4 buildings. They are 100 percent occupied with month-to-month leases. An apartment complex is being built directly adjacent to the property. An assisted living facility is being built across the street. This area of East Patchogue is booming. The owner's family has owned the property for over 100 years when it was built as car dealerships for Cadillac- LaSalle, Packard, and Studebaker. The floors under the carpet on the main building are Terrazzo. The owner also owns the right of way through the property giving his tenants full access to all of the property. There is 25,800 square feet of space comprised of four buildings.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
25,800 SF
Building Class
C
Year Built
1925
Price
$2,800,000
Price Per SF
$108.53
Cap Rate
5.60%
NOI
$156,802
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.50
Lot Size
1.19 AC
Parking
8 Spaces (0.31 Spaces per 1,000 SF Leased)
Frontage
90’ on Main St
Amenities
- Signage
Walk Score®
Very Walkable (83)
Nearby Major Retailers
ConnectOne Bank
Property Taxes
| Parcel Numbers | Improvements Assessment | $4,850 | |
| Land Assessment | $8,350 | Total Assessment | $13,200 |
Property Taxes
Parcel Numbers
Land Assessment
$8,350
Improvements Assessment
$4,850
Total Assessment
$13,200
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318 E Main St
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