134 Main St - Restaurant FOR SALE


Port Jefferson, NY 11777
$5,400,000 USD
516-607-7722
134 Main St, Port Jefferson, NY for Sale
$5,400,000 USD
Restaurant - FOR SALE
1/17
null | 6.3% Cap Rate

134 Main St
Port Jefferson, NY 11777


HIGHLIGHTS

  • Please contact Guy Canzoneri for more details | 516 607 7722

OVERVIEW

We are pleased to present the sale of 134 Main Street, a 15,000 square foot, fully stabilized retail property in the heart of Port Jefferson, New York. This prime property is ideally located in Port Jefferson's vibrant downtown, bordered by Port Jefferson Harbor to the north and the LIRR to the south. The harbor provides access to the Bridgeport/Port Jefferson Ferry, offering a convenient route from Long Island's North Shore to Bridgeport, CT, and New England. To the south, the LIRR Port Jefferson branch offers direct access to Queens and NYC. The area has undergone significant revitalization in recent years, with numerous mixed-use and residential multi-family developments adding hundreds of new residential units, bolstering the Main Street retail environment. Even more projects are planned for Port Jefferson and its surrounding areas. The building features 15,000 square feet of meticulously maintained retail space with numerous improvements completed over the last two years, including new tile work, painting, awnings, and signage, as well as a brand-new roof. The property is fully leased to four retail tenants, each with years remaining on their leases, and, in some cases, options to extend. Revenue streams include tenant rent, parking spots, and an observatory camera. The property benefits from approximately 180 feet of frontage on Main Street and rear frontage on the municipal parking lot. In addition to the benefit of the property being located adjacent to the municipal lot, the sale also includes approximately 20 deeded parking spots for which the Village of Port Jefferson pays an annual fee for the use of. There are also four individual spots dedicated to the owner’s use at his discretion, allowing the owner to assign the spots to tenants or rent them for additional income. A mandated environmental observatory roof camera that monitors smoke stack emissions also generates additional rental income. In the summer of 2023, the entire building's roof was replaced, eliminating any uncertainty about its integrity and ensuring that the most expensive line item related to building maintenance has been taken care of for many years. Eighteen years remain on a transferable warranty. Please give us a call if you have any interest or would like to schedule a showing.

FOR SALE DETAILS

PRICE

$5,400,000 USD

PRICE/SF

$360 USD /SF

CAP RATE

6.3%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Harbor Square Mall

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1956

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.64 AC

LAND SF

27,878 SF

ZONING

C-1

APN/PARCEL ID

0207-012-00-07-00-039-002

ASK ABOUT THIS PROPERTY

Guy CanzoneriBerkshire Hathaway CommercialMore Info
516-607-7722

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Guy CanzoneriBerkshire Hathaway CommercialMore Info
516-607-7722

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.