Home Details for 140 Terrace Avenue

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.

• Utilities

  • Natural Gas Available
  • Cable Connected
  • Electricity Connected
  • Natural Gas Connected
  • Phone Available
  • Sewer Connected
  • Water Connected

• Basement

  • Finished
  • Full
  • Walk-Out Access

• Cooling Information

  • Central Air
  • Wall/Window Unit(s)

• Parking

  • No Garage
  • None

• Heating Information

  • Natural Gas

• Water Features

  • Public