279 Little Tor RdNew City, NY 10956

Property Details for 279 Little Tor Rd

Year built

1965

Lot size

0.42 AC

Property size (Sq ft)

2,316 SF

Property type

Gas stations

APN

392089 51.13-2-34

APU

3920895113234

Description

This exceptional turnkey business opportunity presents a high-performing gas station and convenience store located at 279 S Little Tor Rd, New City, NY 10956. The property, situated on a high-traffic location in Rockland County, boasts 2,155 square feet and features eight gas pumps, three repair bays currently leased for $4,500 monthly (lease expiring July 2020), and a well-established convenience store generating approximately $40,000 in monthly gross sales. The convenience store offers significant expansion potential. The property includes three double-wall fiberglass (DWF) underground storage tanks (10,000, 10,000, and 8,000 gallons) installed in 2005. Comprehensive environmental documentation is available. The property has ample parking and is zoned for commercial use. An application for a new canopy is pending; the canopy's cost ($35,000) is negotiable. The asking price is $4,000,000, representing a 4.00% cap rate. The property has a 100% occupancy rate and is currently operating as a Gulf station. The 1965-built structure is assessed at $17,666 in 2022 taxes. This is a truly remarkable investment opportunity with strong cash flow and significant upside potential. The property's APN is 392089-051-013-0002-034-000-0000. There is no contract with a fuel provider.

• CAP approach

  CAP return

  Valuation

  6%

  $562,869

  6.5%

  $519,571

  7%

  $482,459

• Comparable approach

  Method

  Valuation

  Relative Method

  $762,574

  Geo Method

  $762,574

• Alternative Use

  Use

  Valuation

  Residential

  $438,278

  Hospitality

  $401,460

  Educational

  $334,010

  Medical

  $345,497

  Retail

  $519,571

Location Insight

City

New City

County

Rockland

State

New York

Latitude

41.1295

Longitude

-74.0026

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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