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674 Broadway 4,173 SF Retail Building Kingston, NY 12401 $765,000 ($183.32/SF) 8% Cap Rate
EXECUTIVE SUMMARY
This Beautifully Maintained Brick Building known as the original ARTBAR Gallery in Kingston's Vibrant Arts District is just minutes from the Historic Uptown Stockade Area, Downtown Waterfront, and the Ulster County Performing Arts Center. The main floor with front access from Broadway features a Tavern Room with a gorgeous solid wood wet bar and also has additional seating overlooking the scenic streetscape. It is currently set up as a wine bar and an area you can easily do tapas, paninis and other finger foods. The adjacent gallery with track lighting has a nice open feel and is perfect for event space, gallery space or even retail just to name a few. There is a handicapped-accessible half bath as well. A sizable back room off of the gallery area has a gas stove, commercial hood, refrigerator, and additional half bath. A possible prep area or live and work situation. The upper floors offer two updated 1-bedroom apartments for additional income. An attached one-car garage with storage completes this versatile property with off Street parking. Bring your personal vision to this well-maintained move in ready building. *Please note that the net income and cap rate reflects projected income for the first-floor space and apartments. Also, the tenants in the apartments pay for electric and gas to the stove. The owner pays for gas heat and hotwater.
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,173 SF
Building Class
C
Year Built
1960
Price
$765,000
Price Per SF
$183.32
Cap Rate
8%
NOI
$61,200
Tenancy
Single
Building Height
3 Stories
Building FAR
0.80
Lot Size
0.12 AC
Zoning
Commercial
Parking
6 Spaces (1.44 Spaces per 1,000 SF Leased)
AMENITIES
- Signage
Walk Score®
Very Walkable (86)
Bike Score®
Very Bikeable (74)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 0800-056.025-0001-017.000-0000 | Improvements Assessment | $93,000 |
| Land Assessment | $27,000 | Total Assessment | $120,000 |
PROPERTY TAXES
Parcel Number
0800-056.025-0001-017.000-0000
Land Assessment
$27,000
Improvements Assessment
$93,000
Total Assessment
$120,000
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674 Broadway
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