100 Bay AvePatchogue, NY 11772

Property Details for 100 Bay Ave

Lot size

0.24 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0204-014.00-06.00-013.000

APU

204014000600013000

Description

This thriving deli and restaurant, located at 100 Bay Ave in Patchogue, NY (zip code 11772), presents a fantastic investment opportunity. The business, known as La Casona Deli & Restaurante, is being offered for sale at $119,999. The 800 square foot space is situated in a mixed-use zoned area and boasts ample parking with 19 spaces available. The sale includes all existing inventory, making this a true turnkey operation. The business currently has seating for 19 diners and benefits from a steady clientele. The property is vacant and ready for immediate occupancy. A new lease will commence September 1st, 2024, with a 5-year term, expiring September 1st, 2026, leaving a remaining term of 2.5 years. The business has been under current ownership for 2.5 years. This is an exceptional chance to acquire a well-established business in a desirable location with significant potential for growth. The seller is offering a co-op arrangement. No credit rating is available for the previous tenant.

• CAP approach

  CAP return

  Valuation

  6%

  $2,396,196

  6.5%

  $2,211,874

  7%

  $2,053,883

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,117,176

  Geo Method

  $2,117,176

• Alternative Use

  Use

  Valuation

  Residential

  $2,211,874

  Hospitality

  $2,026,064

  Educational

  $1,685,662

  Medical

  $1,743,634

  Retail

  $2,622,140

Location Insight

City

Patchogue

County

Suffolk

State

New York

Latitude

40.7621

Longitude

-73.0058

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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