Once In A Lifetime Real Estate Opportunity! Just Under 8% Cap Rate!
Motel-Zoned Seven-Family Complex in Suffolk County, NY
On NextCompany since September 13, 2026 (32 days)
NY area
Business overview
This motel-zoned seven-family complex occupies one acre in Suffolk County, NY. The property combines six studios, a detached two-bedroom house, and a detached office with a full bathroom. Renovations covered everything from foundation to roof within two years. Gates secure the complex, which includes a large blacktop driveway.
The seller asks $2,990,000. A recent appraisal valued the property at $3.4 million.
Who is a good fit for this business
- Property investors seeking a nonprofit tenant with an existing lease and scheduled rental increases.
- Buyers seeking residential rental premises with recent foundation-to-roof renovations.
Details
- Reason for selling
- Other business interests.
- Real estate
- Leased
Frequently Asked Questions
The nonprofit tenant pays $22,440 monthly, totaling $269,280 annually. The five-year lease has completed one year and includes a 2% rental increase.
The tenant pays expenses except taxes, insurance, yard maintenance, and snow removal. Those exceptions remain the owner's responsibility.
The seller cites other business interests as the reason for this property sale.