Calling All Investors, Developers, End-Users & Restauranteurs!!! 5, 600+ Sqft. Restaurant/Warehouse With HUGE Parking Lot For Sale!!! The Property Features Excellent Signage, Great Exposure, High 16' Ceilings, 58 Parking Spaces, 223' Of Frontage, Strong RFC Zoning, Outdoor Seating, 4 Skylights, Low Property Taxes, Strategically Placed Curb Cut, 2 Warehouse Bays, Office Area, All New LED Lighting, CAC, +++!!! The Property Is Located In The Heart Of Riverhead Minutes From Tanger Outlets, Riverhead Raceway & Splish Splash!!! The Property Has Been Home To A Successful Restaurant For 23+ Years!!! Neighbors Include Toyota, Nike, Walmart, Costco, The Home Depot, Target, Lowe's Home Improvement, Riverhead Building Supply, CubeSmart Self Storage, Marshalls, HomeGoods, Mattress Firm, IHOP, +++!!! The Entire Property Can Be Delivered Vacant!!! This Property Offers HUGE Upside Potential!!! This Could Be Your Next Investment Property, Development Site Or Home For Your Business!!! Expenses: Insurance: $2, 843 Ann. Maintenance & Repairs: $250 Ann. Taxes: $15, 662. 18 Ann. Total Expenses: $18, 755. 18 Ann. Net Operating Income: $41, 244. 82 Ann.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,388,000
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 | $1,110,400 | $1,110,400 | $1,110,400 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.625% | 6.500% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.955% | 6.612% | 6.182% |
Monthly Tax Payment | $1,305 | $1,305 | $1,305 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $6,392 | $7,018 | $9,370 |
Total Monthly Payment | $7,822 | $8,448 | $10,800 |
* 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.