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185 Broadway 4,640 SF 100% Leased Retail Building Newburgh, NY 12550 $799,000 ($172.20/SF) 9.14% Cap Rate
INVESTMENT HIGHLIGHTS
- Close to airport
- Ferry and Train nearby
- Fully Renovated
- Bus Stop at the door
- High traffic count of over 15000 cars/day
- Fully Leased
EXECUTIVE SUMMARY
Incredible opportunity to add an 8.5% CAP, turn-key investment building into your portfolio. Fully renovated in 2024 and fully rented, this asset provides stability and peace of mind for both new and seasoned owners. The building consists of one street level commercial space plus 4 residential units above. The building went through extensive renovations since purchase -- New roof, floors, walls, ductless heat and air conditioning units, water heaters, bathrooms, kitchens, windows, etc. Municipal water/sewer/gas. At one time the ground floor space had a laundromat so there is a 2" water line still available in this space. Would make a great location for high water usage tenant like another laundromat, hair or nail salon, restaurant, spa, etc...NEWLY LEASED GROUND FLOOR COMMERCIAL SPACE!! Centene/Fidelis will now have a presence on Broadway in Newburgh. High visibility for retail tenants with over 15000 cars per day is a boost for business.
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
4,640 SF
Building Class
B
Year Built/Renovated
1900/2023
Price
$799,000
Price Per SF
$172.20
Cap Rate
9.14%
NOI
$73,000
Percent Leased
100%
Tenancy
Multiple
Building Height
3 Stories
Building FAR
1.78
Lot Size
0.06 AC
Zoning
BC - Broadway Corridor (BC) The primary purpose of the zone is to focus commercial activity along this main thoroughfare.
Frontage
40’ on Broadway
AMENITIES
- Bus Line
- Security System
- Tenant Controlled HVAC
- Air Conditioning
- Smoke Detector
Walk Score®
Walker's Paradise (90)
NEARBY MAJOR RETAILERS
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185 Broadway
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