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Listed by: Berardi Realty
$ 785,000
Est. payment | /mo
42,000 SqFt
$ 785,000
Est. payment | /mo
42,000 SqFt
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
Square Footage 42,000 sqft
Price per Sqft $18
MLS Listing ID 20242343
Originating Board Hudson Valley Catskills Region Multiple List Service (Ulster County Board of REALTORS®)
Year Built 1970
Annual Tax Amount $14,276
Tax Year 14276
Lot Size 1.980 Acres
Acres 1.98
Property Description
This strip plaza is located on State Route 28, with a daily traffic count of 7,000 vehicles. It is situated at the gateway to the Catskills and offers over 42,000 square feet of commercial space. The plaza consists of a large commercial building and 4 attached stores/service shops. It is conveniently located next to the area's largest grocery/shopping center and across the street from the local high school. The high-traffic location ensures year-round business from surrounding homeowners, skiers, tourists, and local development. The property is in very good condition and has municipal sewer access. The large commercial space, previously used as a lumber yard and salvage retail store, offers over 35,000 square feet of office, retail, and warehouse space with excellent visibility from State Route 28. The building has updated systems, including the roof, heating, and cooling units. The tenant base is solid, with a Post Office, Restaurant, Woodstock Antiques, and Café /Catering already occupying the space. The vacant large commercial storefront with warehouse space is available for lease at 4,500 per month. For potential buyers, it's important to note that the sale of the building comes with a non-compete restriction for the grocery business next door for 10 years. At the asking price with the vacant large commercial space, the Cap rate is approximately 6. Please refer to the associated documents for more information on income and expenses related to the property. The owner has a 17,000 estimate to replace the windows in the front that are boarded up. The reason they have not been replaced is because we do not know if a buyer would like to reconfigure the front of the building.
Location
State NY
County Ulster
Area Olive
Zoning 02 - BH 1/2
Interior
Heating Forced Air, Propane
Cooling Central Air
Flooring Combination
Exterior
Exterior Feature Storage
Utilities Available Phone Available, Sewer Connected, Water Connected, Propane
Roof Type Metal
Building
Foundation Block, Brick/Mortar
Sewer Public Sewer
Water Well
Others
Tax ID 36.11
