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Thomas "Chopper" Russo

chopper@chopperrussoteam.com +1(201) 240-5200

$ 2,850,000

Est. payment | -/mo

3.4 Acres Lot

Save

$ 2,850,000

Est. payment | -/mo

Save

3.4 Acres Lot

Key Details

Property Type Commercial

Sub Type Industrial

Listing Status Active

Purchase Type For Sale

MLS Listing ID 1047789

Rental Info No

Year Built 2019

Annual Tax Amount $21,120

Lot Size 3.400 Acres

Acres 3.4

Property Sub-Type Industrial

Source onekey2

Property Description

Excellent investment opportunity consisting of four newer commercial buildings totaling approximately 12,000 SF on 3.4 acres, plus a separate land lease. The property is currently operating at 100% occupancy with five tenants in place—four building tenants and a construction company occupying the land under a separate lease. Current monthly rents are $4,800 for 332 Avenue of the Americas, $5,805 for 95 Bill Larkin Drive, $2,800 for 85 Bill Larkin Drive, and $4,300 for 75 Bill Larkin Drive. Total building rental income is $17,705 per month, or $212,460 annually, plus additional income from the land lease. Annual property expenses are approximately $27,120, producing an estimated NOI of $185,340 from the building rents alone. At the $2,850,000 asking price, this represents approximately a 6.50% cap rate, with rent increases built into the leases. The land lease provides additional income above these figures. Each unit is separately metered and fully connected to Town water, Town sewer, and natural gas, with tenants responsible for their separately metered utilities. The landlord is responsible for snow plowing and lawn maintenance. Ideally located just a stone's throw from New York Stewart International Airport, approximately 1 mile to Route 207, 2 miles to Route 747, 3 miles to I-84, 4 miles to I-87, 4 miles to Route 9W, and 14 miles to Woodbury Common Premium Outlets. This is a strong, fully occupied commercial investment offering multiple income streams, established tenants, municipal utilities, separately metered units, and built-in lease increases.

Location

State NY

County Orange County

Interior

Heating Forced Air, Natural Gas, Propane

Cooling Central Air, Wall/Window Unit(s)

Fireplace No

Appliance Gas Water Heater

Exterior

Parking Features Attached, Off Street, On Street, Parking Lot, Private

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Private, Underground Utilities, Water Connected

Total Parking Spaces 50

Building

Foundation Concrete Perimeter

Sewer Public Sewer

Water Public

Structure Type Vinyl Siding

Schools

High Schools Washingtonville

School District Washingtonville

Others

Special Listing Condition None

OneKey MLS/ Hudson Gateway (HGAR)/ Long Island MLS (MLSLI)/ Mid Hudson MLS

Listed by Tactical Realty LLC • Steven Moreau

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Thomas "Chopper" Russo

Broker Associate

+1(201) 240-5200

332, 95, 85, 75 Bill Larkin DR New Windsor, NY 12553

Thomas "Chopper" Russo

Key Details

Location

Interior

Exterior

Building

Schools

Others

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332, 95, 85, 75 Bill Larkin DR