FOR SALE: CASH FLOWING DEVELOPMENT SITE 508-534 Main Road, Aquebogue, NY - 3 Medical / Professional Office Buildings - Future Mixed-Use Development Potential
Access OM / Deal RoomExecutive Summary
Address
508-534 Main Road
Aquebogue, NY
ASKING PRICE: $2,650,000
Cushman & Wakefield’s Long Island Investment Sales Team has been retained on an exclusive basis to market for sale, 508, 518 & 534 Main Road, Aquebogue. The property comprises three contiguous lots totaling 7.65 acres. The site currently features three office buildings leased to medical / professional tenants, offering in-place cash flow.
Proposed plans include three mixed-use buildings, with 18 residential apartments and 3 retail units (including a 125-seat restaurant with outdoor seating, a deli, and a store), along with 108 parking spaces (including 4 ADA compliant spaces).
The asset is optimally located at a signaled intersection (Main Road & Edgar Avenue), immediately across the street from Aquebogue Elementary School, and less than three miles from the Peconic Bay Medical Center. Additionally, Main Road provides effortless access into Downtown Riverhead / Riverhead LIRR Station.
For more information, please reach out to the exclusive brokers.
Mixed-Use Development Opportunity
Proposed plans include three mixed-use buildings, with 18 residential apartments and 3 retail units (including a 125-seat restaurant with outdoor seating, a deli, and a store), along with 108 parking spaces (including 4 ADA compliant spaces). 508 Main Road is zoned Hamlet Center (HC) allowing residential apartments on upper floors. 518 & 534 Main Road are zoned Hamlet Residential (HR). A portion of 518 Main Road will be developed as parking and 534 Main Road will be used for increased density.
