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ImagesMap

View of building exterior

View of building exterior with uncovered parking

Entrance to property featuring brick siding

Entrance to apartments

Apartments Hallway

Apartment Entry

View of floor plan / room layout

View of room layout

All apartments have the same finishes (flooring, paint, trim, appliances, cabinets, etc)

All apartments updated with same bathroom finishes

View of room layout

First floor retail commercial space

First floor retail commercial space

First floor commercial space

Half bathroom featuring vanity and baseboards

Bird's eye view

Bird's eye view

Aerial view of property's location featuring property parcel outlined and a large body of water

Aerial overview of property's location with property parcel outlined

View of property location with property parcel outlined

View of urban area with property parcel outlined, a nearby body of water, and a notable bridge

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Description

Incredible opportunity to add an 8.5% CAP, turn-key investment building into your portfolio. Fully renovated in 2024 and fully leased, this asset provides stability and peace of mind for both new and seasoned owners. The building consists of one street level commercial space currently leased to a strong Fortune 2500 company 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... High visibility for retail tenants with over 15000 cars per day is a boost for business. The City of Newburgh and the Broadway corridor are going through many exciting economic development projects. A new hotel and spa adaptive reuse assemblage will begin just a few blocks away. City government is designing a deep port dock to welcome large passenger cruise ships into the city and use nearby international airport -- a real boost to the local city economy. The highway access to two interstates along with the MTA train station across the bridge create a draw for commuters and visitors alike.

Details

Features

Interior

Exterior

Parking

Utilities

Taxes

MLS Number: 932333

Listing Provided By: Hilary R. Goldman – (845) 500-0784 – hilaryryan.goldman@randcommercial.com

Rand Commercial – (845) 294-3100 – ginny.warsaw@randcommercial.com