1081 Route 55Lagrangeville, NY 12540

Property Details for 1081 Route 55

Year built

1932

Lot size

0.26 AC

Property size (Sq ft)

1,225 SF

Zone code

TCB

Property type

Retail space

APN

133400 6460-01-458981-0000

APU

9223372036854775807

Description

This exceptional commercial property, located at 1081 Route 55 in Lagrangeville, NY, offers a unique investment opportunity. Spanning 1,225 square feet on a 0.26-acre lot, this three-story building is ideally situated in the heart of the town center. Currently operating as a multi-faceted business encompassing a hair salon, beauty studio, boutique, and formal wear shop, the property presents versatile options for a new owner. The building boasts a convenient private parking lot with at least nine spaces and a motorized handicap lift, ensuring accessibility for all. The layout is well-designed, with the top floor dedicated to dress fittings, the main floor serving as the salon, and the basement providing ample storage space. Each floor offers substantial square footage, maximizing operational efficiency. Previously a residential property, its conversion to commercial use opens a wide range of possibilities for future development and business ventures. The property is meticulously maintained and features recent upgrades, including a new central air conditioning system, a new hot water heater, and an updated bathroom. The seller is open to including the existing businesses in the sale, providing a turnkey operation for immediate revenue generation. This prime location and versatile space make this an exceptional opportunity for a savvy investor seeking a thriving commercial enterprise. The asking price is $700,000.

• CAP approach

  CAP return

  Valuation

  6%

  $328,519

  6.5%

  $303,248

  7%

  $281,588

• Comparable approach

  Method

  Valuation

  Relative Method

  $403,893

  Geo Method

  $403,347

• Alternative Use

  Use

  Valuation

  Residential

  $255,801

  Hospitality

  $234,313

  Educational

  $194,945

  Medical

  $201,650

  Retail

  $303,248

Location Insight

City

Lagrangeville

County

Dutchess

State

New York

Latitude

41.6727

Longitude

-73.8038

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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