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Property 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.

Features
Heating System:
Heat Pump, Natural Gas
Cooling System:
Ductless
Appliances:
Gas Water Heater
Electric:
Three Phase
Parking Features:
On Street
Sewer:
Public Sewer
Utilities:
Natural Gas Available, Trash Collection Public, Electricity Connected, Water Connected, Sewer Connected
Address Map
City:
Newburgh (city)
State:
NY
County:
Orange County
Property and Construction
Development Status:
Brick
Agent MlsId:
55829
Office MlsId:
RAND24
Number Of Units:
5
Special Listing Conditions:
No
Tax Annual Amount:
$13,000
Water Source:
Public
Zoning:
BC
PhotosCount:
23

Commercial Sale For Sale

185 Broadway, Newburgh (city), NY

$799,000
Listing ID #932333
Basic Details
Property Type :
Commercial Sale
Property SubType :
Retail
Listing ID :
932333
Price :
$799,000
Bathrooms Total :
0
Building Area :
4,640 Sqft
Status :
Active
Status :
Active
Listing Office :
Rand Commercial
Listing Agent :
Hilary R. Goldman
Agent info
Kasner Properties
284 W Park Ave Long Beach, NY 11561
Contact Agent
Walkscore
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