10 Wallace StOtisville, NY 10963

Property Details for 10 Wallace St

Year built

1990

Lot size

0.17 AC

Property size (Sq ft)

7,296 SF

Property type

Investment properties

Property subtype

Live-work space

APN

334401 104-2-5.22

APU

3344011042522

Description

This exceptional commercial real estate opportunity in the thriving town of Otisville, NY, presents a unique chance to acquire a well-established and profitable business alongside its substantial real estate holdings. The core offering is a 7,296 square foot hardware store currently operating as Otisville Hardware, boasting established franchises with True Value, Do it Best, and Benjamin Moore. Note that inventory and franchise agreements are not included in the sale price of $799,000. Detailed financial records are available upon request for qualified buyers. A significant asset is the fully paid-for solar panel system installed on the roof, representing an investment of $110,000. Adjacent to the main store is a 2,400 square foot warehouse, providing ample storage and operational space. The seller is open to various transaction structures, including a potential 1-2 year leaseback or transitional period to facilitate a smooth handover. The property sits on a 0.23-acre lot. The building's heating system utilizes oil, and the floor load capacity is 14. While not included in this offering, a separate income-producing two-family residential property at 5 Wallace Street is available for purchase as an add-on. This presents a compelling opportunity for an entrepreneur seeking a turnkey business or a savvy investor looking for a strong long-term real estate investment in a growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,075,520

  6.5%

  $1,915,860

  7%

  $1,779,020

• Comparable approach

  Method

  Valuation

  Relative Method

  $978,897

  Geo Method

  $972,361

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $3,785,200

  Retail / Commercial

  $1,930,810

  Hospitality / Lodging

  $1,395,120

  Office

  $1,896,090

  Institutional / Educational

  $1,988,850

  Residential Income

  $2,326,950

  Multifamily

  $2,835,490

  Automotive / Energy

  $1,704,730

  Parking / Income-Based Land

  $596,241

  Restaurant / Food Service

  $979,260

  Healthcare / Senior Housing

  $1,972,950

Location Insight

City

Otisville

County

Orange

State

New York

Latitude

41.4741

Longitude

-74.5381

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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