140 Terrace Avenue
Property Description
Owner is Motivated and has Authorized a Huge Price Reduction. Prime Mixed-Use Investment Opportunity in the Heart of Port Chester This well-located mixed-use building only 5 minutes away from Greenwich, CT. features two fully occupied residential units generating strong, consistent rental income, with current rents below market value-providing immediate upside potential through future increases. The property also includes a highly versatile ground-floor commercial space offering additional revenue. Formerly a vibrant Italian social club venue, the space is currently operated as a rentable venue for private parties, meetings, and small events. It produces steady supplemental income and represents a valuable built-in revenue stream for investors or owner-users. Notably, most of the bookings have been generated through word-of-mouth alone, with little to no formal advertising. This creates a clear opportunity for growth-by implementing simple marketing strategies such as social media promotion or exterior signage, a new owner could significantly increase visibility, bookings, and overall return on investment. A Simple Sign can be placed outside with a Phone number and type of Bookings available. In addition the room can be set up in a festive mood and encourage possible clients The commercial space features a large open floor plan, kitchen, and half bath-ideal for events or easily adaptable for a wide range of uses, including professional office, medical space, wellness space etc. subject to approvals. With below-market residential rents, an income-producing commercial component, and multiple value-add opportunities through repositioning and marketing, this property presents substantial upside and a compelling investment opportunity.
Broker Details
E REALTY INTERNATIONAL CORP. (718) 886-8110
MLS ID: 196752 State License Number: 10301215948
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $719,000 |
| No. of Units: | 3 |
| Year Built: | 1900 |
| Opportunity Zone: | No |
| Price per unit: | $239,667 |
| Property Website | Click Here |
| Number of Bedrooms: | 6 |
| Number of Bathrooms: | 3 |
ID: 3yd-MLSLINY-1001580
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