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27-29 Front Street, E. Rockaway (East Rockaway), NY, 11518 | $1,100,000
Mixed-Use Investment Opportunity – East Rockaway, NY Exceptional mixed-use property featuring approximately 1, 900 square feet of updated first-floor commercial space, including office and garage/warehouse areas, plus approximately 1, 700 square feet of fully rented second-floor residential apartments generating $6, 000 per month in rental income. The commercial space is currently owner-occupied and is expected to be delivered vacant at closing, offering flexibility for owner-occupancy or investment purposes. Ownership currently attributes approximately $5, 000 per month in rental value to the commercial space, providing potential additional income opportunity. The first floor offers updated office space with a flexible layout, along with a separate garage/warehouse component and dedicated entrance. The residential units feature a separate access from the property's commercial portion. Convenient location near the LIRR, major roadways, shopping, and local business districts Based on current occupancy and market rental assumptions, the property offers multiple income streams and operational flexibility. Purchasers should independently verify potential uses in accordance with local zoning regulations and permit requirements. A versatile mixed-use asset offering income-producing residential units, commercial flexibility, and long-term investment potential in Nassau County.
Features
- Town: E. Rockaway
- Property Type: Mixed Use
- Construction: Block, Brick
- Utilities: Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected
- Parking: Open
- Levels: 2
- Heating: Electric, Forced Air, Natural Gas
- Cooling: Central Air, Multi Units, Wall/Window Unit(s)
- Units: 4
- Year Built: 1928
- Acreage: 0.09
- Est. Taxes: $24,409
- Lot Desc: Back Yard, Level
- Elem. School: Rhame Avenue Elementary School
- Middle School: East Rockaway Junior-Senior High Sch
- High School: East Rockaway Junior-Senior High Sch
- School District: East Rockaway
- MLS#: 1005169
- Days on Market: 2 days
- Website: https://www.raveis.com
/prop/1005169/2729frontstreet_erockaway_ny?source=qrflyer
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Frank KolbSenior Vice President - Coaching & Strategic, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 81725
203.980.8025
Frank.Kolb@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
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27-29 Front Street, E. Rockaway (East Rockaway), NY, 11518
$1,100,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Frank Kolb
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $880,000 | $880,000 | $880,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.259% | 6.183% |
| Monthly Tax Payment | $2,034 | $2,034 | $2,034 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $4,997 | $5,347 | $7,426 |
| Total Monthly Payment | $7,156 | $7,506 | $9,585 |
* 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.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535