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    OFF-MARKET Estimated value $720,000
    Turn key restaurants

    56 Bay Ave, Eastport, NY 11941-1337

    4,892 SF 0.52 ac lot Built 2010
    Entity Owned 25-yr Hold Free & Clear
    Property ID
    US63-2362434
    Property summary
    AI-generated overview

    This exceptional offering presents two adjacent waterfront properties in Eastport, NY, totaling 7,500 net rentable square feet on approximately 1.5 acres. 56 S Bay Ave houses a renowned restaurant with 90 legal seats, 15 boat slips, and 2,500 square feet of indoor space plus 500 square feet of waterfront decking. Its prime location on Moriches Bay, ample parking, and fine American-Continental cuisine have established a loyal following. Directly adjacent, 58 S Bay Ave features a stunning 4,900 square foot event hall with 120 legal seats, vaulted ceilings, panoramic waterfront views, and 800 square feet of decking. This versatile space, complete with private rooms, an elevator, and a full commercial kitchen, is ideal for weddings, private parties, and other large-scale events. Both properties boast high-end mechanical systems, ample storage, and are fully turnkey, ready for immediate operation. The combined annual town taxes are $59,166.14. The properties are zoned for Resort Business use and are available for occupancy on January 16, 2024. The asking price for this unique opportunity is $6,875,000. Tax ID numbers are 473689 365.000-0001-013.000 and 473689 365.000-0001-020.001. Nearby establishments include Remsenburg Marina, Eastport Music Scene, and several local businesses.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    Year built 2010
    Total area 4,892 SF
    Lot 0.52 ac (22,651 SF)
    Zoning code RWB
    APN 0900-365.00-01.00-013.000
    UPID US63-2362434
    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
    • Trumpets Catering Wedding Service
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    $720k
    Owner & transaction history
    Htl LLC · 25 yrs held
    Htl LLC
    since 2001
    1 recorded transaction
    2001
    $250,000
    Zoning & alternative use
    RWB · Eastport, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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