$799,000
438 Lake AVE Saint James, NY 11780
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$799,000
Est. payment /mo
3,920 Sqft Lot
Pending
438 Lake AVE Saint James, NY 11780
UPDATED:
08/21/2024 01:42 PM
Key Details
Property Type Commercial
Sub Type Retail
Listing Status Pending
Purchase Type For Sale
MLS Listing ID 3497221
Originating Board onekey
Rental Info No
Year Built 1946
Annual Tax Amount $20,579
Lot Size 3,920 Sqft
Acres 0.09
Property Description
Calling All Investors, Developers & End-Users!!! 8.48 Cap 2 Unit Corner Retail Building In Historic Saint James For Sale!!! The Property Is Located In The Heart Of Saint James 2 Blocks From The Saint James LIRR Station!!! The Building Features Excellent Signage, Great Exposure, Strong Central Business Zoning, 8 Parking Spaces, High Ceilings, Private Driveway Parking, All New LED Lighting, CAC+++!!! The 3,920 Sqft. Corner Building Has 54+ Feet Of Frontage On Lake Avenue & 106+ Sqft. On 3rd Street!!! 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: Bike Shop (2,300 Sqft.): $57,600 Ann.; 3% Ann. Inc. Starting 7/1/26. Lease Exp. 6/30/28. Interior Decorator (1,620 Sqft.): $37,200 Ann. Lease Exp.: 2029. Total Gross Income: $94,800 Ann. Expenses: Gas: $0 Ann. (Tenant Pays) Electric: $0 Ann. (Tenant Pays) Water: $0 Ann. (Tenant Pays) Maintenance & Repairs: $1,500 Ann. Insurance: $5,000 Ann. Taxes: $20,578.86 Ann. Total Expenses: $27,078.86 Ann. Net Operating Income (NOI): $67,721.14 Ann. (8.48 Cap!!!)
Location
State NY
County Suffolk
Zoning Commercial
Interior
Fireplace No
Others
Special Listing Condition None
Listed by All Island Estates Realty Corp • 516-783-5600
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