320 Main St Islip, NY 11795
- Office Properties & Spaces
- 0.20 lot acres
Current Use by Public Records
- Broadway Dance Theatre / Dance School
- New York Autobrokers / Auto Broker
Property Details for 320 Main St
- Year built
- 2000
- Lot size
- 0.20 lot acres
- Property type
- Office Properties & Spaces
Description
This exceptional waterfront medical office building, located at 320 Main St, Islip, NY, presents a unique investment opportunity. The property boasts a substantial 8,651 square feet of space situated on a 0.2-acre lot (53,667 square feet total). Its prime location offers 274 feet of bulkheading with a convenient boat slip, adding significant value and appeal. Currently generating a substantial gross annual income of $420,000 through a month-to-month tenancy with Stony Brook, which covers all utilities. The property's strong financial performance is further highlighted by a net income of $296,140. Stony Brook is prepared to sign a new long-term lease, ensuring continued rental income and stability. The property's financial records reflect annual taxes of $71,079, maintenance expenses of $26,306 in 2023, and insurance costs of $26,475 in 2023. Detailed floor plans and a survey are readily available for review. Ample parking is provided, catering to both staff and patients. This is a rare opportunity to acquire a high-income-producing waterfront medical building with a strong tenant in place and the potential for long-term growth. The property's exceptional location and features make it an ideal investment for discerning buyers seeking a stable and lucrative asset.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Islip
- County
- Suffolk County
- State
- New York
- Longitude
- -73.218
- Latitude
- 40.7285
