Christopher Devince Purchases Retail Property At 64 West Main Street Patchogue For $1.05M
64 West Main Street
$1,050,000
$262/SF
Building Size
4,000 SF
Asset Type
Retail
Closing
Apr 16, 2025
About this deal
AI
This retail property, located at 64 West Main Street in the Patchogue market, has a total square footage of 4,000 and was sold for $1,050,000. The price per square foot stands at $262.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $1,050,000
- Buyer: Christopher Devince
- Seller: Dawn Michelle
- Broker: Steven D. Bezmen - Douglas Elliman
Steven D. Bezmen, representing the transaction through Douglas Elliman, noted that the deal began over a year ago as a referral to lease the second-floor office space, highlighting the property's unique history and character. Bezmen also mentioned the search for a new tenant to occupy the space.
Patchogue Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
15.11%
Cash-on-Cash
-4.32%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93