45 Grand StNewburgh, NY 12550

Property Details for 45 Grand St

Year built

1932

Lot size

0.13 AC

Property size (Sq ft)

7,160 SF

Zone code

DN

Property type

Office buildings

APN

331100 31-1-11.1

APU

331100311111

Description

This exceptional 8,920 square foot office building presents a rare investment opportunity in Newburgh, NY's Liberty/Grand Street Heritage Corridor. Formerly a bank, this stunning property boasts soaring ceiling heights, elegant marble and granite interiors, and a wealth of character. The current layout includes 17 individual offices, a dedicated conference room, a convenient kitchen, and a second-floor balcony offering captivating street views. A full basement provides ample storage space. The building benefits from designated parking at the corner of Grand Street and Broadway, ensuring convenient access for staff and clients. Its prime location offers walkability to a variety of restaurants, City Hall, and SUNY Orange Community College, enhancing its appeal and potential for high occupancy. The property is currently configured for office use but could be adapted to suit a variety of commercial needs. The asking price is $1,750,000, and creative seller financing is available. This is an exceptional opportunity to acquire a landmark building in a thriving urban setting. The building's unique history and prime location make it an ideal investment for discerning buyers seeking a high-return property with significant potential for appreciation. Consider the possibilities this remarkable building offers.

• CAP approach

  CAP return

  Valuation

  6%

  $1,183,762

  6.5%

  $1,092,703

  7%

  $1,014,653

• Comparable approach

  Method

  Valuation

  Relative Method

  $935,526

  Geo Method

  $935,526

• Alternative Use

  Use

  Valuation

  Residential

  $1,354,952

  Hospitality

  $1,241,129

  Educational

  $1,032,605

  Medical

  $1,068,118

  Retail

  $1,606,274

Location Insight

City

Newburgh

County

Orange

State

New York

Latitude

41.5007

Longitude

-74.01

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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