140 Terrace Avenue, Port Chester, NY 10573

• 3,744 sqft

Property Description

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 or wellness space, service-based businesses, catering operations, or personal services. Additionally, there is potential to convert the space to residential use (subject to approvals), offering even greater flexibility and long-term value. 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 Status:

Active

Data Last Updated:

June 25, 2026 at 7:22AM

Listing Office:

E Realty International Corp : 718-886-8110

MLS ID:

1001592

Interior

• Basement: FinishedFullWalk-Out Access
• A/C: Central AirWall/Window Unit(s)
• Heating: Natural Gas

Exterior

• Parking: None

Location

• Originating MLS: onekey2
• School District: Port Chester-Rye
• County: Westchester County

Lot

• Zoning: 4801-136-000-00063-002-0067-0000000

Utilities

• Utilities: Cable ConnectedElectricity ConnectedNatural Gas ConnectedPhone AvailableSewer ConnectedTrash Collection PublicWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2