425 Lake AveSaint James, NY 11780

Property Details for 425 Lake Ave

Lot size

0.25 AC

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

0800-056.00-05.00-003.000

APU

800056000500003000

Description

This exceptional mixed-use storefront property at 425 Lake Ave, Saint James, NY, presents a compelling investment opportunity. The 1,733 square foot building, constructed in 1910, sits on a 0.25-acre lot and boasts a strong net operating income (NOI) of $34,368. Currently configured as three units, the property offers significant potential for expansion, given its Central Business (CB) zoning and access from both Lake Avenue and First Avenue. Ample parking is available with approximately 20 spaces. The building is currently heated by oil, but features existing gas lines, simplifying a potential conversion. Its prime location in the heart of Saint James provides high retail visibility, placing it within easy reach of the train station, parks, shops, and restaurants. Seller financing is available, making this a truly attractive proposition for savvy investors seeking a value-add opportunity in a thriving New York community. The property's 11780 zip code ensures convenient access to major transportation routes and amenities. This is a rare chance to acquire a well-situated, income-producing asset with considerable upside potential.

• CAP approach

  CAP return

  Valuation

  6%

  $2,232,548

  6.5%

  $2,060,814

  7%

  $1,913,613

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,205,476

  Geo Method

  $2,205,476

• Alternative Use

  Use

  Valuation

  Residential

  $2,060,814

  Hospitality

  $1,887,694

  Educational

  $1,570,540

  Medical

  $1,624,553

  Retail

  $2,443,062

Location Insight

City

Saint James

County

Suffolk

State

New York

Latitude

40.8812

Longitude

-73.1568

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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