485 N Ocean Ave Patchogue, NY 11772

This vacant, 8,776 square foot Class B medical office building presents a compelling value-add investment opportunity in Patchogue, NY. Located at 485 N Ocean Ave, this single-story, 1950-built property sits on a 0.88-acre lot and offers 45 parking spaces, a significant advantage in this market. Currently vacant, the building presents a blank canvas for a savvy investor to reposition and lease, targeting the strong demand for medical office space in the area. The property boasts a pro-forma NOI of $150,000 and a pro-forma cap rate of 6.48%, indicating strong potential returns. The asking price is $2,315,000, translating to $263.79 per square foot. The property is zoned for commercial use and features fee simple ownership. Its convenient location just north of Sunrise Highway ensures excellent visibility and accessibility. This is an exceptional chance to acquire a well-situated medical office building with significant upside potential in a thriving Long Island community. The property's size, parking, and location make it an ideal candidate for redevelopment or lease-up. The Suffolk County location and commercial zoning provide further investment security. This is a rare opportunity to acquire a vacant medical office building in a high-demand area.