15 Matthews St Goshen, NY 10924

This three-story, 42,210 square foot Class B office building in Goshen, NY, presents a compelling value-add investment opportunity. Located at 15 Matthews St, this property boasts a prime location directly off Route 17 (I-86), with over 67,000 vehicles passing daily, ensuring high visibility and excellent signage opportunities. Currently 60% occupied with 16 tenants across 22 units, the building offers significant upside potential. The current Net Operating Income (NOI) is $82,511, but a pro-forma NOI of $367,978 is projected upon full occupancy, resulting in a pro-forma cap rate of 6.69%. Built in 1988 and renovated in 2024, the building features a brick exterior, large windows, a loading dock, and an elevator. A substantial 14,274 square feet of vacant space on the ground floor is ready for tenant improvements, allowing for customization to attract high-quality tenants. The asking price is $5,500,000, with a current price per square foot of $130.30. The 2.4-acre lot is zoned DS. Rent bumps are permitted. This property offers a rare chance to acquire a well-located office building with substantial room for growth and increased profitability. The building's modern amenities, combined with its strategic location and the potential for significant rent increases, make it an attractive investment for those seeking a value-add opportunity in a thriving market.