Prime Mixed-Use Investment Opportunity in the Heart of Port Chester
This well-located mixed-use building only 5 minutes away from Greenwich, CT. features two fully occupied residential units generating strong, consistent rental income, with current rents below market value—providing immediate upside potential through future increases.
The property also includes a highly versatile ground-floor commercial space offering additional revenue. Formerly a vibrant Italian social club venue, the space is currently operated as a rentable venue for private parties, meetings, and small events. It produces steady supplemental income and represents a valuable built-in revenue stream for investors or owner-users.
Notably, most of the bookings have been generated through word-of-mouth alone, with little to no formal advertising. This creates a clear opportunity for growth—by implementing simple marketing strategies such as social media promotion or exterior signage, a new owner could significantly increase visibility, bookings, and overall return on investment.
The commercial space features a large open floor plan, kitchen, and half bath—ideal for events or easily adaptable for a wide range of uses, including professional office, medical space, wellness space etc. subject to approvals.
With below-market residential rents, an income-producing commercial component, and multiple value-add opportunities through repositioning and marketing, this property presents substantial upside and a compelling investment opportunity.
Listing Details
$799,000
Active
Single Family
1001580
7/14/2026
60 Day(s) Ago
Property Details
140 Terrace Avenue
Rye
NY
10573
Westchester
3,744
6
3 full
Colonial
Finished
Shingle Siding
1900
Location Details
0.04 Acres
None
No
No
School Details
Port Chester-Rye
Thomas A Edison
Port Chester
Port Chester
