631-858-2460
475 E Main St, Patchogue, NY for Sale
Medical - FOR SALE
1/20
null | Request Cap Rate

475 E Main St
Patchogue, NY 11772
East Patchogue


HIGHLIGHTS

  • Prime location on East Main Street (Montauk Highway) in East Patchogue, offering high visibility and strong traffic exposure.
  • 95% occupancy with long-term Modified Gross leases and satisfied tenants who have extension options.
  • Five new rooftop HVAC systems installed in 2023, minimizing future capital expenditures.
  • Opportunity to reduce maintenance costs through professional property management services.
  • Income Potential May Be Increased up to $100K per annum with Proposed Cell Tower contract.

OVERVIEW

This exceptional opportunity presents a ±40,000 square foot professional office building located on 1.9 acres in the heart of East Patchogue, prominently positioned along the highly trafficked East Main Street (Montauk Highway). The two-story property is well maintained and features a mix of professional and medical office suites, with strong lease agreements in place and minimal operating expenses. Most tenants occupy under Modified Gross lease structures, contributing proportionate shares of taxes and utilities, ensuring predictable cash flow and operational efficiency. In 2023, five brand-new rooftop HVAC systems were installed, further enhancing the building’s reliability and reducing future capital expenditures. The property is currently 95% occupied, with only one vacant unit, and all existing leases range from three to five years. Tenants are satisfied and have options to extend, providing long-term stability and upside potential. While the building is currently self-managed, there is an opportunity to streamline operations and reduce maintenance overhead by engaging professional property management services. Possible owner financing. This asset offers a compelling blend of location, tenancy, and operational simplicity—ideal for investors seeking a high-performing office property in a prime Long Island corridor.

FOR SALE DETAILS

PRICE

Request Info for Price

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Colonial Professional Building

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Medical

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1975

SPRINKLERS

-

PARKING SPACES

200

LAND DETAILS

LAND ACRES

1.19 AC

LAND SF

51,836 SF

ZONING

Office

APN/PARCEL ID

0200-977-60-01-00-041-000

ASK ABOUT THIS PROPERTY

Michael MurphyDouglas Elliman CommercialMore Info
631-858-2460

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Michael MurphyDouglas Elliman CommercialMore Info
631-858-2460

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