116 Division StPatchogue, NY 11772

Property Details for 116 Division St

Lot size

0.23 AC

Property type

Turn key restaurants

APN

0204-013.00-08.00-003.001

APU

204013000800003001

Description

This exceptional 5,000-square-foot restaurant in Patchogue, NY, presents a unique investment opportunity. Located at 116 Division St, this two-level establishment boasts stunning Patchogue River views and has been a thriving business for over 25 years, generating over $3.5 million in revenue in 2023. The property includes a newly renovated bar and lounge, a state-of-the-art kitchen, and ample seating for over 80 patrons outdoors. Four separate catering rooms are available, along with two bars perfect for live music. The property sits on a 2.07-acre lot zoned for Business and Industrial use and includes 50 boat slips generating an additional $90,000-$100,000 annually, plus a three-family house at 143 River Ave. that produces $50,000 in annual income. This prime location is adjacent to a proposed hotel site, offering significant future development potential. Ample parking is available. The current owner is open to a two-year sale/leaseback arrangement. This is a rare chance to acquire a well-established, high-revenue-generating waterfront property in the heart of Patchogue Village.

• CAP approach

  CAP return

  Valuation

  6%

  $2,722,445

  6.5%

  $2,513,026

  7%

  $2,333,524

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,298,888

  Geo Method

  $3,298,888

• Alternative Use

  Use

  Valuation

  Residential

  $2,119,832

  Hospitality

  $1,941,754

  Educational

  $1,615,517

  Medical

  $1,671,077

  Retail

  $2,513,026

Location Insight

City

Patchogue

County

Suffolk

State

New York

Latitude

40.7606

Longitude

-73.0199

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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