Oyster Bay, NY 11714

Property

Ownership: For Sale
Type: mixed-use
Lot Size: 0.1 Acres

Financials

Price:$1,400,000
Annual Taxes:$41,044
6243 Northern Blvd
Phone:
Listing Courtesy of OverSouth LLC

Exceptional mixed use investment property offering strong income potential and significant upside.

Building Front

Building Front

Building Front
Retail space
Retail space
Retail Space
Retail Space
Retail Space
Retail space Bath1
Basement
Basement
Basement
Basement
Utility Room
Apartments Entrance
Apartment 1Bed1
Apartment 1Bed2
Apartment 1Living Room
Apartment 1Living Room
Apartment 1Kitchen
Apartment 1Kitchen
Apartment 1Kitchen
Apartment 1Kitchen
Apartment 2 Bed1
Apartment 2 Bed2
Apartment 2 Kitchen
Apartment 2 Kitchen
Apartment 2 Kitchen
Apartment 2 Kitchen
Apartment 2 Bath1
Sprinkler System
Utility Room
2 Detached Garage
Parking Lot
Parking Lot
Building Front
Additional content
Additional content
Additional content
Building FrontRetail spaceRetail spaceRetail SpaceRetail SpaceRetail SpaceRetail space Bath1BasementBasementBasement

Description

Exceptional mixed-use investment property offering strong income potential and significant upside. Situated on a 9,000 sq. ft. lot with approximately 3,221 sq. ft. of rentable space, this well-maintained building consists of one ground-floor retail unit and two fully renovated two-bedroom apartments on the second level. The residential units were completely renovated approximately four months ago and feature gas-fired central heating and air conditioning, providing modern comfort and efficiency for tenants. The retail space and basement are serviced by oil-fired hot water heat and wall-mounted air conditioning units. The property also includes a full basement offering ample storage space, a detached two-bay commercial garage, and an on-site 12-car parking lot, providing excellent convenience for both residential and commercial occupants. Each unit is separately metered for electricity, allowing tenants to pay their own electric, gas and oil utilities bill. The building is serviced by 200-amp electrical service. Investment Highlights Mixed-use building with 1 retail unit and 2 residential apartments Two renovated 2-bedroom apartments Approximately 3,221 sq. ft. of rentable space 9,000 sq. ft. lot Detached 2-door commercial garage 12 dedicated parking spaces Full basement for storage Separate electric meters for each unit Residential units feature gas central heat and central air Retail space and basement feature oil-fired hot water heat with wall A/C units 200-amp electrical service Tenants pay their own utilities Financial Summary Current Monthly Gross Rental Income: $7,540 Annual Gross Rental Income: $90,480 Annual Operating Expenses (including taxes): $52,449.07 Current Net Operating Income (NOI): $38,030.93 ***Utilities*** Taxes- $41,044.86 Annual Sprinkler Alarm System- $1,270.92 Annual Snow Removal- $1,200 Annual Insurance- $7192.08 Annual Internet- $1,575.48 Annual PSEGLI- $65.73 Annual Water- $100 Annual Rental Incomes Per Unit - Retail Space- $2040 - Apartment 1- $2300 - Apartment 2- $3200 - Garage- $0 The retail space offers the opportunity for rental increases to current market rates, providing investors with the potential to achieve an estimated 7% capitalization rate. With renovated residential units, separate utilities, abundant parking, and additional income potential, this property presents an excellent opportunity for both investors and owner-users seeking stable cash flow with future upside. ******All information provided is deemed reliable but is not guaranteed and should be independently verified by prospective buyers and their representatives. Property details, including but not limited to square footage, lot size, income, expenses, zoning, permits, taxes, leases, and all other information, are subject to verification. The listing broker and listing agent make no representations or warranties, express or implied, as to the accuracy or completeness of the information provided and assume no responsibility for any errors, omissions, or changes. Buyers are advised to conduct their own due diligence before entering into any agreement**********

Amenities

  • Accessible Approach with Ramp
  • Bathrooms
  • Building Security
  • Ceiling Fan(s)
  • Dishwasher
  • Dryer
  • Electricity Connected
  • Exhaust Fan
  • Fire Escape
  • Fire Sprinkler System
  • Gas Water Heater
  • High Speed Internet
  • Mailbox
  • Microwave
  • Natural Gas Connected
  • Oil Water Heater
  • Oven
  • Paved
  • Ramp
  • Refrigerator
  • Security Lights
  • Security System
  • Sewer Connected
  • Smoke Detectors
  • Stainless Steel Appliance(s)
  • Storage
  • Trash Collection Public
  • Video Cameras
  • Washer
  • Water Connected

Long Island MLS

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. International currency conversions where shown are estimates based on recent exchange rates and are not official asking prices.

All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.