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    OFF-MARKET
    Turn key restaurants

    361 Main St, Center Moriches, NY 11934-3525

    0.5 ac lot
    Entity Owned 15-yr Hold ~ Est. High Equity
    Property ID
    US63-6060295
    Property summary
    AI-generated overview

    This exceptional 6,100-square-foot retail space, located at 361 Main Street in Center Moriches, NY 11934, presents a unique investment opportunity. Currently vacant, this single-tenant property boasts a prime location on a signalized corner of busy Montauk Highway (Main Street), benefiting from high visibility and significant daily traffic counts exceeding 14,361 vehicles. The building offers 25 parking spaces for customer convenience. The property features approximately 80 feet of frontage on Main Street and approximately 131 feet of frontage on Newins Street. Previously operating as a fully equipped restaurant, the space is capable of seating 242 patrons indoors, with an additional 25 seats available for outdoor dining. Financial records indicate gross receipts exceeding $1,600,000.00 and a net income of $250,000. The asking price for lease is $13,000 per month gross. The owner is also considering a sale, with a key money requirement of $600,000, and is open to a down payment of $400,000. This property is ideal for a variety of restaurant or retail concepts seeking a high-traffic location with ample space and parking. The property's size, location, and previous success make it an attractive proposition for discerning investors and business owners.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Lot 0.5 ac (21,780 SF)
    APN 0200-858.00-01.00-007.000
    UPID US63-6060295
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Sea Cove Restaurant
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Despina Management Corp · 15 yrs held
    Despina Management Corp
    since 2011
    5 recorded transactions
    2018
    2011
    $875,000
    2010
    $1.2M
    2006
    $1.6M
    1969
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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