About 438 Lake Avenue
Calling All Investors, Developers & End-Users!!! 8.48 Cap 2 Unit Corner Retail Building In Historic Saint James For Sale!!! The Property Is Located In The Heart Of Saint James 2 Blocks From The Saint James LIRR Station!!! The Building Features Excellent Signage, Great Exposure, Strong Central Business Zoning, 8 Parking Spaces, High Ceilings, Private Driveway Parking, All New LED Lighting, CAC+++!!! The 3,920 Sqft. Corner Building Has 54+ Feet Of Frontage On Lake Avenue & 106+ Sqft. On 3rd Street!!! Neighbors Include Starbucks, USPS, Mercedes, Lexus, Acura, Kia, Toyota, Jeep-Dodge-Ram, Chevrolet, Mazda, TD Bank, King Kullen, 7-Eleven, Dunkin', Whole Foods, Costco, BP Gas, Lowe's, Trader Joe's, Macy's, +++!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property Or Home For Your Business!!! Income: Bike Shop (2,300 Sqft.): $57,600 Ann.; 3% Ann. Inc. Starting 7/1/26. Lease Exp. 6/30/28. Office / Storefront (1,620 Sqft.): $37,200 Ann. (Available) Total Gross Income: $94,800 Ann. Expenses: Gas: $0 Ann. (Tenant Pays) Electric: $0 Ann. (Tenant Pays) Water: $0 Ann. (Tenant Pays) Maintenance & Repairs: $1,500 Ann. Insurance: $5,000 Ann. Taxes: $20,578.86 Ann. Total Expenses: $27,078.86 Ann. Net Operating Income (NOI): $67,721.14 Ann. (Pro Forma 8.48 Cap!!!) , or
Features of 438 Lake Avenue
| MLS® # | 3497221 |
|---|---|
| Price | $799,000 |
| Bathrooms | 0.00 |
| Acres | 0.09 |
| Year Built | 1946 |
| Type | Commercial |
| Sub-Type | Retail |
| Status | Active |
Community Information
| Address | 438 Lake Avenue |
|---|---|
| City | Saint James |
| County | Suffolk |
| State | NY |
| Zip Code | 11780 |
Additional Information
Listing Details
| Office | All Island Estates Realty Corp |
|---|---|
| Office Contact | 516-783-5600 |