906 State Route 28Kingston, NY 12401

Property Details for 906 State Route 28

Year built

1980

Lot size

1.10 AC

Property size (Sq ft)

4,560 SF

Property type

Investment properties

Property subtype

Retail residential properties

APN

513000 38.4-1-20

APU

513000384120

Description

This exceptional 9,020 square foot mixed-use commercial property, situated on 1.1 acres along the bustling Route 28 corridor in Kingston, NY, presents a remarkable investment opportunity. Built in 1980 and meticulously maintained, this C-1 zoned building offers three distinct commercial spaces, each with private entrances, exits, and utilities, easily adaptable to a variety of businesses. The interior layout allows for flexible configuration, enabling the combination of units for larger operations. Significant renovations have been completed, including retail updates (2015), septic upgrades (2016 & 2018), refrigeration unit renovations (2019 & 2020), radon mitigation (2021), and a roof replacement (2021). The property boasts extensive commercial kitchen features, including a 1,100 square foot walk-in refrigerator, a 100 square foot freezer, a commercial dishwashing setup in the basement, and additional bay sinks and dishwashing areas upstairs. Multiple loading docks enhance operational efficiency. The building is equipped with a new 1200 amp underground service (480-volt, 3-phase, and single-phase panels), plus a pre-existing 600 amp service with multiple meters. A comprehensive security system with cameras, a well water supply with filtration and UV disinfection, and two separate in-ground septic systems (including a 1000-gallon grease trap) ensure seamless operation. Heating is provided by hot water baseboard (fuel oil) and multiple split heat pump units, complemented by multiple AC split units with heat pumps. The ample parking lot has been recently repaved. This turnkey property offers unparalleled potential for entrepreneurs and investors alike. The asking price is $1,280,000.

• CAP approach

  CAP return

  Valuation

  6%

  $1,404,641

  6.5%

  $1,296,591

  7%

  $1,203,978

• Comparable approach

  Method

  Valuation

  Relative Method

  $929,712

  Geo Method

  $923,505

• Alternative Use

  Use

  Valuation

  Residential

  $1,296,591

  Hospitality

  $1,187,671

  Educational

  $988,128

  Medical

  $1,022,111

  Retail

  $1,537,088

Location Insight

City

Kingston

County

Ulster

State

New York

Latitude

41.9821

Longitude

-74.0856

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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