Calling All Investors, Developers & End-Users!!! 9. 8 Cap, 5 Unit Investment Property With Solid Tenants On A HUGE 2+ Acre Lot For Sale!!! All Tenants Pay Their Own Utilities & Have Long Leases In Place!!! The Property Features Great Exposure, Excellent Signage, 10, 415 Sqft. Building With 400 Amp 3 Phase Power, 16' Ceilings, 126 Parking Spaces, Strong J-2 Zoning, Fenced Lot, Public Garage Permit, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Center Moriches Just Minutes From Sunrise Highway & William Floyd Parkway!!! Neighbors Include Starbucks, Capital One Bank, The Home Depot, Stop & Shop, Dunkin', 7-Eleven, CVS, McDonald's, Kohl's, Mobil, Baskin Robins, Family Dollar, Wendy's, Lidl, +++!!! This Property Has HUGE Upside Potential!!! This Could Be Your Next Development Site / Home For Your Business!!! Income: Dance Elektra (4, 712 Sqft. ): $62, 352 Ann. ; 2% Ann. Inc. ; Lease Exp. : 5/31/27. C & J Truck Repair (1, 700 Sqft. ): $52, 450. 92 Ann. ; 3% Ann. Inc. ; Lease Exp. : 2/28/30. C & J (Yard Space): $12, 000 Ann. Office (500 Sqft. ): $21, 600 Ann. 2 Br. Apt. + Contractor Office & Yard Space : $48, 000 Ann. Lease Exp. : 1/2029. Gross Income: $196, 402. 92 Ann. Expenses: Gas: $0 Ann. Oil: $0 Ann. Electric: $0 Ann. Maintenance & Repairs: $250 Ann. Insurance: $2, 856 Ann. Taxes: $26, 191. 54 Water: $0 Ann. Snow & Landscape: $850 Ann. Total Expenses: $30, 147. 54 Ann. Net Operating Income (NOI): $166, 255. 38 Ann. (7. 92 Cap!!!)
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Our Executive Mortgage Banker:
Our Insurance Division:
$2,100,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $1,680,000 | $1,680,000 | $1,680,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.000% | 6.750% | 6.500% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.377% | 6.851% | 6.664% |
Monthly Tax Payment | $2,183 | $2,183 | $2,183 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $10,072 | $10,896 | $14,635 |
Total Monthly Payment | $12,380 | $13,204 | $16,943 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first 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.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.