Rare opportunity to acquire a 1/2 acre assemblage, Two parcels being sold together. ( 620 & 628 Shore Rd ). 628 Shore Rd is vacant land and 620 Shore Rd is currently improved with income-producing mechanic shop / warehouse with tenant paying $8,000/Month. The Village has indicated support for a minimum of 8 senior housing units 2 Bedrooms 1.5 Baths approximately 1,500 SF each. The elevated construction concept strategy already contemplated ( piles/helicals with under-unit car ports, post sandy coastal style construction. With $8,000/Month cash flow from existing mechanic/ warehouse tenant gives a developer ability to collect income while advancing approvals and environmental due diligence are completed.
628 Shore Road, Lindenhurst, NY, 11757
The rates and annual percentage rate (APR) displayed are based upon the following assumptions: a 20% down payment (e.g. $20,000 down on a $100,000 purchase price), conforming loan amount, $1,950 in finance charges, 30 days prepaid interest, 1 point, 30 day rate lock. The rates and annual percentage rate (APR) will vary depending upon the actual down payment percentages, points and fees for your transaction. Rates and the margin for adjustable rate mortgages [if applicable] are subject to change without prior notice and may vary with your unique credit history, and terms of your loan. The rates displayed vary by property state, may change or not be available at commitment or closing or may be subject to product restrictions.
The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first five years (for a 5/6 ARM) or seven years (for a 7/6 ARM) and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan. Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable -rate mortgages [if applicable], are subject to change without prior notice.
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