For Sale
$715,000

22 Main StMillerton, NY 12546

High-yield retail/office building, 6.28% cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional value-add investment opportunity presents a three-story, 4,038 square foot storefront building located at 22 Main Street in Millerton, New York. Boasting a strong 95% occupancy rate across eight units, the property generates a substantial net operating income (NOI) of $44,925, translating to a compelling 6.28% capitalization rate. The asking price is $715,000, representing a price per square foot of $177.07. The building, constructed in 1935, features a mix of retail spaces on the main street level and five executive suites on the second floor, catering to a diverse tenant base. Situated on a 0.05-acre lot, the property is zoned GB and benefits from its prime location on a vibrant Main Street, characterized by high foot traffic and ongoing municipal improvements. Detailed financial information, including income and expense statements, is available upon request. This multi-tenant property offers a stable income stream and significant potential for future appreciation, making it an attractive investment for discerning buyers. The building has been meticulously maintained throughout its history.

Highlights

  • Three-story, 4,038 sq ft storefront building at 22 Main Street, Millerton, NY.
  • 95% occupancy across eight units, generating $44,925 NOI and a 6.28% cap rate.
  • Asking price: $715,000 ($177.07/sq ft).
  • Mix of retail and five executive suites; built in 1935, situated on a 0.05-acre lot, GB zoning.
  • Prime Main Street location with high foot traffic and ongoing municipal improvements.

Property Details for 22 Main St

Property type
Retail properties, Retail space
Square Feet
4,038 SF
Year Built
1935
Buildings
1
Stories
3
Lot Size (sq. ft)
2,178 SF
Units
8

Location Insight

City
Millerton
County
Dutchess
State
New York
Latitude
41.953452
Longitude
-73.510895
22 Main St, Millerton, New York

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22 Main St
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