19 Suffolk StFreeport, NY 11520

Property Details for 19 Suffolk St

Year built

1960

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

0.26 AC

Property size (Sq ft)

1,100 SF

Property type

Office buildings

APN

62-176-00-0325

APU

62176000325

Description

This exceptional commercial property, located at 19 Suffolk Street in Freeport, NY, presents a unique investment opportunity. Situated a short distance from the renowned nautical mile, this property boasts a prime location zoned for marine industrial use. The existing structure, completely rebuilt ten years ago following Hurricane Sandy, offers a versatile space ideal for a variety of businesses. The building includes a substantial first-floor storage area, currently unfinished, providing ample space for inventory, equipment, or materials. The property also features twenty parking spaces, a significant asset for any commercial enterprise. Adding to its appeal is an included residential rental unit, generating potential supplemental income. The building's zoning allows for a wide range of uses, including the sale, display, storage, repair, and maintenance of boats, as well as the operation of a fish market, restaurant, bar, grill, or various retail and service businesses. The office space comprises 50% of the building's total area, and the property is currently fully occupied. This property offers a blend of established infrastructure and significant potential for growth, making it an attractive investment in a thriving waterfront community. The property's recent reconstruction ensures modern building standards and long-term durability. With its strategic location and diverse usage possibilities, this property is poised for continued success.

• CAP approach

  CAP return

  Valuation

  6%

  $252,250

  6.5%

  $232,847

  7%

  $216,215

• Comparable approach

  Method

  Valuation

  Relative Method

  $143,726

  Geo Method

  $143,726

• Alternative Use

  Use

  Valuation

  Residential

  $288,730

  Hospitality

  $264,475

  Educational

  $220,040

  Medical

  $227,608

  Retail

  $342,284

Location Insight

City

Freeport

County

Nassau

State

New York

Latitude

40.6327

Longitude

-73.5825

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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