Listed by Coldwell Banker M&D Good Life Patchogue
$699,000
479 S Ocean Avenue
Details
Property Type Special Purpose
Sub Type Other
Square Footage 2,000
Cap Rate 11.33%
NOI $79,200
Occupancy 100%
Rent Bumps Yes
Price per SqFt $365
Lot Size (SqFt) 11,761
Occupancy Date 01/05/2024
Multi Income Property Full Rented
Marketing description
Cleared, Corner Lot, Level, Near Public Transit
Discover an exceptional investment opportunity at 479 South Ocean Ave, Patchogue NY. This prime 3-income building situated in the heart of Patchogue Village. Perfectly located just steps from the scenic Shorefront Park and the vibrant waterfront, this property offers unparalleled access to the lively riverfront atmosphere, beautiful views, and recreational amenities that make Patchogue a sought-after destination. This well-established building features a charming 2-bedroom apartment and a cozy 1-bedroom apartment, both currently rented and providing immediate income. Additionally, there is a fully leased Deli on the premises, offering further revenue streams. With three dependable tenants, this property promises steady cash flow and excellent investment security. Beyond its impressive income potential, 479 South Ocean Ave boasts a truly priceless location. Its proximity to the water and downtown Patchogue provides countless business opportunities — ideal for entrepreneurs looking to capitalize on the bustling waterfront events, festivals, and high foot traffic. Whether considering expanding existing operations or establishing a new venture, this versatile property offers a strategic base in a thriving community. Furthermore, the building has access to sewer hookup, simplifying development and adding to its appeal for future improvement or expansion projects. With its prime location, robust income, and a multitude of business possibilities, 479 South Ocean Ave is an outstanding opportunity for investors or entrepreneurs seeking to be part of Patchogue’s dynamic waterfront scene. Don’t miss your chance to own a piece of Patchogue’s vibrant water-oriented lifestyle with this incredible commercial/residential property. Contact us today to learn more and schedule a viewing!
Listing Contacts
Listed by Coldwell Banker M&D Good Life Patchogue
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$79,200.00
$6,600.00/mo
Valuation Metrics
0
DSCR
11.33%
Cap Rate
11.33%
ROI
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