Prime investment opportunity in the Northfork

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Address: 136 Main St, Greenport, NY 11944, USA
Created date: May 29, 2024
Date last updated: July 17, 2024

Total of 6,984 SF Retail and Residential Building for Sale

136 Main Street | The Village of Greenport | New York 11944
Main and East Front Streets | The Northfork Long Island

– Asking Price $2.6M
– Est. Market Value $2.5M-$3.5M
– Suggested Opening Bid $2.4M
– Projected CAP RATE 7.56%

Open House Schedule:
– Saturday, July 20th: 12:00 pm – 2:00 pm
– Monday, July 22nd: 2:00 pm – 3:30 pm
– FINAL OFFERS DUE: JULY 23RD @ 4pm Best Regards!

Property Description

Kassin Sabbagh Realty (KSR) is managing the sale of a prime investment opportunity in the Northfork. This mixed-use building, situated at 136 Main Street in Greenport, New York, spans three stories and comprises four residential units. With a gross square footage of 6,984, the building includes 2,200 square feet of ground floor retail space and four residential units. A comprehensive gut renovation took place between 2018 and 2019, culminating in the issuance of a final Certificate of Occupancy in August 2019. Centrally located in the thriving Town of Greenport, the property enjoys high foot traffic along Main Street and proximity to Greenport Harbor, the Greenport train station, the Antique Carousel, and the East End Seaport Museum. Additionally, the property benefits from its close proximity to six hotels within a mile radius, offering excellent visibility and accessibility for various retail uses. The residential apartments further enhance the property’s appeal, being conveniently located near golf courses, beaches, parks, and a winery, all reachable within a 15-minute drive.

Key Property Information

Listing Status: Available
Listing Type: Auction
Property Types: Apartment Buildings
Price: $2,400,000
No. of Units: 5
Cap Rate: 7.56%
Building Size: 6,984 Sq ft
Lot Size: 5,227.00 Sq ft
No. of Stories: 2
Zoning Code: C-R
Opportunity Zone: No
Price per unit: $480,000
Property Website Click Here
Address: 136 Main St, Greenport, NY 11944, USA

Unit mix

Description No. of Units Sq ft. Avg. Monthly Rent

FINANCIAL DETAILS

Income/expense info: Actual
Gross income: 168000
Operating expenses: 39450
Net operating income: 128550

Additional contacts

Full name Phone number Email address
RICKY ARYEH 917.797.9911 [email protected]

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