Mixed-Use Investment Opportunity Excellent opportunity to acquire a well-maintained mixed-use property offering both stable residential income and flexible commercial space in a convenient East Rockaway location.
The property features approximately 1,900 square feet of updated first-floor commercial space, including professional office space with an attached garage/warehouse area. The commercial space is currently owner-occupied and is expected to be delivered vacant at closing, making it ideal for an owner-user or investor seeking to lease the space at current market rates.
The second floor consists of approximately 1,700 square feet of fully leased residential apartments currently generating $6,000 per month ($72,000 annually) in rental income. The residential units enjoy their own private entrance, separate from the commercial space.
Based on current market conditions, the first-floor commercial space is estimated to command approximately $4,500 to $5,500 per month in rental income (approximately $54,000 to $66,000 annually), creating the potential for strong cash flow when fully leased. Buyers should conduct their own due diligence regarding rental rates and income projections.
Property highlights include:
Approximately 3,600 square feet of combined commercial and residential space
Updated first-floor office with flexible layout
Attached garage/warehouse space
Separate commercial and residential entrances
Fully occupied residential units
Commercial space delivered vacant
Convenient proximity to the LIRR, major roadways, shopping, restaurants, and local business districts
Whether you're an investor seeking multiple income streams or an owner-user looking to offset occupancy costs with residential rental income, this versatile mixed-use property offers exceptional flexibility and long-term investment potential on Long Island