117 Mill StNewburgh, NY 12550

Property Details for 117 Mill St

Year built

1955

Lot size

0.36 AC

Property size (Sq ft)

3,091 SF

Zone code

CD

Property type

Auto shops

APN

331100 44-7-11

APU

33110044711

Description

This exceptional commercial property at 117 Mill St, Newburgh, NY presents a rare opportunity. The 3,091 square foot building has served as a thriving automotive service center for over 60 years, boasting a loyal customer base and consistent walk-in traffic. The property includes five service bays, a main office with waiting area, and a restroom. Equipment included in the sale comprises lifts, a high-speed balancer, and tools necessary for NYS inspections, along with benches, cabinets, and ample storage. An oil-fired heater for waste oil is also present. The substantial 8,000 square foot parking lot ensures convenient access for customers and employees. Situated in a central Newburgh location, this property offers excellent visibility and accessibility. The building could be delivered vacant, and the seller is open to flexible terms regarding the sale of the business. The asking price of $599,000 encompasses the real estate only. This is an ideal investment for an established business looking to expand or a new entrepreneur seeking a turnkey operation in a high-demand market. The 0.36-acre lot provides ample space for future expansion or additional development. This long-standing business presents a unique opportunity to acquire a profitable enterprise with a proven track record.

• CAP approach

  CAP return

  Valuation

  6%

  $829,115

  6.5%

  $765,336

  7%

  $710,670

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,019,131

  Geo Method

  $1,017,753

• Alternative Use

  Use

  Valuation

  Residential

  $645,590

  Hospitality

  $591,357

  Educational

  $492,002

  Medical

  $508,923

  Retail

  $765,336

Location Insight

City

Newburgh

County

Orange

State

New York

Latitude

41.4953

Longitude

-74.0199

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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