Saint James, NY 11780,529 Lake AVE

$1,150,000

$1,150,000

Est.Price: ?

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Est. payment /mo

0.27 Acres Lot


SOLD DATE : 12/20/2023

Key Details

Sold Price $1,150,000

Property Type Commercial

Sub Type Mixed Use

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 3485306

Year Built 1920

Annual Tax Amount $18,494

Lot Size 0.270 Acres

Property Description

Calling All Investors, Developers & End-Users!!! MINT 100% Occupied 6 Unit Mixed Use Building In Historic Saint James For Sale!!! The Property Is Located In The Heart Of Saint James Directly Across The Street From The Saint James LIRR Station!!! The Building Features Excellent Signage, Great Exposure, Strong Central Business Zoning, 2 Stories, 86 Parking Spaces, High 8' Ceilings, Private Parking Lot, New Driveway, New Roof, New Chimney, New Electric, New Piping, Fenced Lot, Motion Sensor Lights, All New LED Lighting, 200 Amp Power, CAC+++!!! The 5,050 Sqft. Building Is Situated On A Huge 11,700+ Sqft. Lot & Has 70+ Feet Of Frontage On Lake Avenue!!! The Owner Completely Renovated The Entire Property In 2021!!! Neighbors Include Starbucks, USPS, Mercedes, Lexus, Acura, Kia, Toyota, Jeep-Dodge-Ram, Chevrolet, Mazda, TD Bank, King Kullen, 7-Eleven, Dunkin', Whole Foods, Costco, BP Gas, Lowe's, Trader Joe's, Macy's, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or Home For Your Business!!! Income: Dog Groomer (Units E+F; 1,500 Sqft.): $18,348 Ann.; Flat Rent; Lease Exp. 6/30/24. Yoga Studio (Units C + D; 1,900 Sqft.): $38,400 Ann.; 4% Ann. Inc.; Lease Exp. 3/30/27. Apt. A (1 Br. 800 Sqft.): $21,600 Ann.; Lease Exp. 8/30/23. Apt. B (1 Br. 900 Sqft. Duplex): $28,800 Ann. M-M. Total Gross Income: $107,148 Ann. Expenses: Gas: $5,226 Ann. Electric: $0 Ann. Water: $1,080 Ann. Insurance: $2,850 Ann. Maintenance & Repairs: $250 Ann. Taxes: $18,494 Ann. Total Expenses: $27,900 Ann. Net Operating Income (NOI): $79,248 Ann. (6.9 Cap!!!)

Location

State NY

County Suffolk

Zoning Comm. Bldg

Building

Story 2

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Listed by All Island Estates Realty Corp • 516-783-5600
Bought with All Island Estates Realty Corp

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Luciane Serifovic

CEO & FOUNDER | License ID: 10491208575

+1(917) 567-8767

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