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Calling All Investors, Developers & End-Users!!! 9.8 Cap, 5 Unit Investment Property With Solid Tenants On A HUGE 2+ Acre Lot For Sale!!! All Tenants Pay Their Own Utilities & Have Long Leases In Place!!! The Property Features Great Exposure, Excellent Signage, 10,415 Sqft. Building With 400 Amp 3 Phase Power, 16' Ceilings, 126 Parking Spaces, Strong J-2 Zoning, Fenced Lot, Public Garage Permit, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Center Moriches Just Minutes From Sunrise Highway & William Floyd Parkway!!! Neighbors Include Starbucks, Capital One Bank, The Home Depot, Stop & Shop, Dunkin', 7-Eleven, CVS, McDonald's, Kohl's, Mobil, Baskin Robins, Family Dollar, Wendy's, Lidl, +++!!! This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site / Home For Your Business!!! Income: Dance Elektra (4,712 Sqft.): $62,352 Ann.; 2% Ann. Inc.; Lease Exp.: 5/31/27. C & J Truck Repair (1,700 Sqft.): $52,450.92 Ann.; 3% Ann. Inc.; Lease Exp.: 2/28/30. C & J (Yard Space): $12,000 Ann. Office (500 Sqft.): $21,600 Ann. 2 Br. Apt. + Contractor Office & Yard Space : $48,000 Ann. Lease Exp.: 1/2029. Gross Income: $196,402.92 Ann. Expenses: Gas: $0 Ann. Oil: $0 Ann. Electric: $0 Ann. Maintenance & Repairs: $250 Ann. Insurance: $2,856 Ann. Taxes: $26,191.54 Water: $0 Ann. Snow & Landscape: $850 Ann. Total Expenses: $30,147.54 Ann. Net Operating Income (NOI): $166,255.38 Ann. (7.92 Cap!!!)
Property Type(s):
Commercial
| Last Updated | 1/10/2024 | Year Built | 1978 |
|---|---|---|---|
| County | Suffolk |
Price History
| Prior to Sep 11, '23 | $2,388,000 |
|---|---|
| Sep 11, '23 - Oct 16, '23 | $2,188,000 |
| Oct 16, '23 - Today | $2,100,000 |
Additional Details
| GARAGE | Yes |
|---|---|
| LOT | 2.12 acre(s) |
| STORIES | 1 |
| TAXES | 26192 |
| ZONING | J-2 |
Location
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Listed with All Island Estates Realty Corp
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