23 Woodcleft Ave Freeport, NY 11520-6129
- Turn key restaurants
- 2,764 SF
- 0.09 lot acres
Jan 23, 2020
Current Use by Public Records
- Hibiscus on the Mile / Bar / Seafood Restaurant
Property Details for 23 Woodcleft Ave
- Year built
- 2003
- Construction
- WOOD
- Lot size
- 0.09 lot acres
- Property size
- 2,764 SF
- Property type
- Turn key restaurants
- APN
- 62-177-00-0004
- APU
- 62177000004
Description
This exceptional investment opportunity presents a fee-simple ownership of a thriving, 6,910 square foot restaurant and bar situated on Freeport's Nautical Mile at 23 Woodcleft Ave, Freeport, NY 11520. The property, built in 2003, boasts a Class B designation and features three stories within a 9,100 square foot lot. Currently operating at 100% occupancy, this single-tenancy establishment generates a substantial net operating income (NOI) of $168,000, yielding a compelling 5.42% cap rate. The asking price is $3,100,000. The property is zoned for commercial use and benefits from the security of a triple-net (NNN) lease. Outdoor seating is available, adding to its appeal. This location is surrounded by various other restaurants and amenities, making it an ideal investment for discerning buyers seeking a strong return in a desirable area. The property's APN is 2009-62-177-00-0004-0, 2009-62-177-00-0007-0.
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
- Freeport
- County
- Nassau
- State
- New York
- Longitude
- -73.5829
- Latitude
- 40.6395
- CBSA code
- 35620
- CBSA name
- NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA
