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420 Clock Tower Cmns DrBrewster, NY 10509

Mixed-use asset, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional mixed-use property, Clock Tower Commons, presents a compelling investment opportunity. Located in Brewster, New York, this Class A asset boasts 59,928 square feet across eight, two-story buildings situated on a 10-acre lot. Currently 90% occupied by a diverse tenant mix including restaurant, medical office, and retail spaces, the property generates a strong net operating income (NOI) of $797,000. The weighted average remaining lease term (WALT) is a solid 4.8 years, providing excellent lease stability. The property features ample parking (25 spaces per 1,000 sq ft) and benefits from a prime location on Route 22, a major regional thoroughfare, just 2.5 miles from the intersection of Interstates 84 and 684, and only 60 miles north of New York City. The property is zoned SR 22. Its strategic location near the Brewster Metro-North train station (less than 10 minutes away) and proximity to major shopping centers like The Highlands Retail Center and Danbury Fair Mall further enhances its appeal. The surrounding area is experiencing significant growth, with planned developments adding residential units, retail, and dining options, promising continued market strength. Currently, 25% of the space is occupied by medical office tenants, indicating a growing sector within the property. This is a rare opportunity to acquire a well-positioned, high-performing mixed-use asset in a thriving market.

Highlights

  • 59,928 square feet mixed-use property in Brewster, NY.
  • $797,000 net operating income (NOI).
  • 90% occupancy with diverse tenant mix.
  • 4.8-year weighted average remaining lease term (WALT).

Property Details for 420 Clock Tower Cmns Dr

Property type
Retail properties, Restaurants
Square Feet
59,928 SF
Class
A
Year Built
1990
Buildings
8
Stories
2
Lot Size (sq. ft)
435,600 SF

Location Insight

City
Brewster
County
Putnam
State
New York
Latitude
41.4201214
Longitude
-73.5727175
420 Clock Tower Cmns Dr, Brewster, New York

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420 Clock Tower Cmns Dr
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