$525,000
476 Broadway Newburgh, NY 12550
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$525,000
Est. payment /mo
Active
476 Broadway Newburgh, NY 12550
UPDATED:
10/07/2024 04:12 PM
Key Details
Property Type Commercial
Sub Type Mixed Use
Listing Status Active
Purchase Type For Sale
MLS Listing ID H6331277
Originating Board onekey
Rental Info No
Year Built 1900
Annual Tax Amount $9,425
Property Description
This well-maintained mixed-use property offers an exceptional opportunity for investors seeking reliable rental income and the potential to increase cash flow. The property features a vacant street-level storefront, previously leased at $2,000/month, presenting an open canvas for a new retail business or office tenant. With a large, versatile space and convenient rear entry leading to municipal parking, this storefront is highly appealing to small business owners looking for ease of access. Residential income comes from two fully occupied units on the upper floors. The 2nd-floor unit is a 2-bedroom apartment, currently rented for $1,400/month. The 3rd-floor unit is a 1-bedroom apartment, generating $1,200/month. Both apartments have been recently updated, including kitchens, bathrooms, and flooring. Tenants pay all utilities (gas and electric), while the landlord covers water, sanitation, exterminator services, taxes, and insurance, with estimated annual expenses under $14,000. The property boasts high-efficiency gas boilers (residential units) and updated electrical systems, ensuring low maintenance costs and energy savings. This investment offers immediate income from residential leases (both units are month-to-month), with the added opportunity to lease the vacant storefront at market rates. Whether you're a seasoned investor or looking to diversify, this property's strong income potential and strategic location make it a perfect addition to any portfolio.
Location
State NY
County Orange
Zoning Commercial, Retail
Interior
Heating Natural Gas, Hot Water
Cooling Window Unit(s)
Fireplace No
Appliance Microwave, Oven, Refrigerator
Building
Sewer Public Sewer
Water Public
Schools
School District Newburgh
Others
Special Listing Condition None
Listed by Rising Star Realty • 914-243-4885
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