PeterStuart
MLS#1071438
STATUSActive
PROPERTY TYPECommercial - Retail
SCHOOLFreeport
Property Description
Rare two-store retail opportunity on North Main Street in the Village of Freeport.197-199 North Main Street is a brick, two-unit retail building offering in-place income with immediate value-add upside. Store 1 is leased to an established restaurant operator two years into a 10-year term, with 3% annual escalations and a strong payment history. The tenant pays its own gas and electric, and the space has independent heating and cooling.Store 2, previously operated as a juice bar, is vacant, giving an investor the opportunity to lease up to market and nearly double the building's income, or an owner-user the chance to occupy while the restaurant offsets carrying costs.Capital improvements include a roof approximately 5 to 6 years old and upgraded electrical service.Ideal for 1031 exchange buyers, private investors and owner-users seeking a Main Street asset with long-term, escalating income. Rent roll, lease summary and pro forma available to qualified buyers upon request.
Property Features
Property Type: Commercial - Retail
Basement: Yes
Basement: Partially Finished, Storage Space, Walk-Out Access
Cooling: Electric
Heating: Electric, Hot Water
Lot Size: 0.06 Acres
Stories: 1.0
Taxes: $8,533
Year Built: 1922
Feature Descriptions
Building Area Total: 1500
Business Type: Food & Beverage
Days on Site: 5
Exterior: Brick
On Market Date: 2026-11-07
Parcel Number: 55-261-39
Property Attached Y/N: 1
Rental Term: Monthly
Sewer: Public Sewer
Units: 2
Utilities: See Remarks
Water: Public
Local Schools
School District: Freeport
Listed By / Shown By
Listing By
Agency Name: 5 Boro Realty Corp
Agency Contact: 917-763-0331
Shown By
Agent Name: Peter Stuart
Agent Phone: Cell: (516) 967-3705
Agency Title: Coldwell Banker American Homes
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197 North Main Street | MLS# 1071438
This commercial property located at 197 North Main Street , Freeport, NY 11520 is currently listed for sale with an asking price of $599,990. North Main Street is located within the Freeport school district. Search Freeport real estate on pstuart.cbamhomes.com today.