269 E Main St
Deal Overview
Total Raise
$2.37M
Minimum Investment
$250K
Hold Period
5-10 Years
LP IRR
13.4%
Return on Equity
2.9x
This asset is a durable, hands-off income play anchored by Healthcare and Fitness.
The property serves a supply-constrained, high-income Long Island submarket. With an 11+ year WALT and Year-1 DSCR of 1.71x, the deal offers immediate yield and a clear Year-3 refinance path.
Asset Snapshot
- Size
- 23,518 SF
- Acreage
- 1.20 Acres
- Structure
- One Building / Two Units
Refi Strategy
Targeting a Year-3 refinance at a modeled 5.25% rate to return significant LP capital while capturing the 3% annual rent escalations.
Investment Highlights
- Deep Basis Acquisition: Acquired for $6.7M—an $800,000 discount to the $7.5M original ask.
- Passive NNN Structure: 100% tenant-paid expenses including taxes, insurance, and CAM.
- Credit Anchor: Stony Brook Medicine occupies 24% of GLA with clinical medical buildout.
- Long-Term Stability: FitLife committed through 2037 with 3% annual contractual rent bumps.
- High-Traffic Infill: Located on Main Street/Montauk Hwy with access easements in perpetuity.
Tenant Details (The Anchors)
Tenant Profiles
FitLife
Anchor Tenant76% of GLA
Lease through 2037
FitLife is an established, award-winning fitness concept. The East Islip location was recently voted Long Island’s #1 Gym of 2024 and features a premium buildout including a mezzanine and outdoor training turf.
Status
Active
Category
Health/Wellness
Stony Brook
Medical Hub24% of GLA
Long-Term Occupancy
Stony Brook Medicine represents a premier healthcare provider in the region. This clinical location provides essential services to the submarket, benefiting from a high-income patient base and synergies with the adjacent fitness anchor.
Project Financial Details
| Sources & Uses | Amount |
|---|---|
| Purchase Price | $6,700,000 |
| Closing, Reserves & Buffer | $670,000 |
| Total Project Cost | $7,370,000 |
| Senior Debt (74.6% LTV) | $5,000,000 |
| LP Equity Required | $2,370,000 |
Target Return & Timeline
01
Acquisition
Close at 7.6% Cap and begin quarterly distributions of durable NNN cash flow.
02
Year 3 Refi
Execute lower-rate refinance to return initial capital to LPs and boost cash-on-cash yield.
03
Harvest
Capture 10 years of contractual rent growth and target an opportunistic exit or recapitalization.
Invest in 269 E Main St
Total raise
$2.37M
Min Investment
$250K
Hold time
5-10 Years
LP IRR
13.4%
Return on equity
2.9x
↓ More details available to qualified investors ↓
Similar Investment Opportunities
Explore more premium deals in our curated collection
High-yield, value-add mixed-use asset
$0 committed
MYE 510 LLC presents a rare opportunity to invest in a high-yield, value-add mixed-use asset located at 510 9th Avenue in the heart of Manhattan. The property consists of 22 residential units and 2 commercial spaces, situated within the highly desirable 9th Avenue corridor with exceptional transit access and tenant demand.
Total raise
$150K
Min Investment
$50K
Hold time
7 Years
LP IRR
21.09%
Return on equity
3.0 x
The Ardin: Class A Multifamily
$0 committed
The Ardin is a 179-unit, Class A, mixed-building style multifamily development in Glendale, WI. Located in an undersupplied submarket with high barriers to entry, this highly amenitized project offers...
Total raise
$12M
Min Investment
$100K
Hold time
5 Years
LP IRR
22%
Return on equity
2.4 x
Stabilized ‘Class A’ Asset – 59 LP Investor A-Units for purchase
$0 committed
Located on the prominent intersection of Van Buren and Juneau, NOVA is a 9-story, 251-unit luxury apartment community in the heart of Milwaukee's East Town opened in 2023. The project brought new construction luxury product to a submarket that had not seen an approachable price point in over a decade.
Total raise
$1.01M
Min Investment
$300K
Hold time
7 Years
LP IRR
17.4%
Return on equity
2.1 x
The Approach: Class A Multifamily
$0 committed
The Approach is a Class A, 318-unit multifamily development located in Westfield, Indiana — one of the fastest-growing cities in the state and a leading market for multifamily investment. Investors are projected to receive a 25% internal rate of return (IRR) over the three-year investment period, with an equity multiple of 1.9x.
Total raise
$6M
Min Investment
$250K
Hold time
3 Years
LP IRR
25%
Return on equity
1.9 x
Get Notified About New Deals
Leave your email below and we'll notify you when new deals are added.