248 Plank RdNewburgh, NY 12550

Property Details for 248 Plank Rd

Lot size

5.50 AC

Property type

Investment properties

Property subtype

Retail residential properties

APN

334600 34-2-21

APU

33460034221

Description

This exceptional owner-user opportunity presents a 6,000-square-foot manufacturing building situated on a generous 5.5-acre lot in Newburgh, NY. The single-story, Class C building, constructed in 1964, boasts a 10-foot ceiling height and one dock-high door, ideal for various industrial uses including warehousing, light manufacturing, or distribution. The property features ample yard space, partially fenced, and benefits from a shale base. Its zoning (B - Business Zone) allows for a range of commercial activities. The property's strategic location offers convenient access to major transportation routes and the Newburgh Beacon Bridge. A pending contract exists for a Verizon cell tower on the site. The current owner is open to leasing back a portion of the land for outdoor storage. The property is listed at $1,200,000 ($200/sq ft), with a land assessment of $42,500 and a total assessment of $106,300. This presents a compelling investment opportunity for businesses seeking a versatile industrial space with significant acreage in a prime location. The APN is 334600-034-000-0002-021.000-0000.

• CAP approach

  CAP return

  Valuation

  6%

  $54,217,260

  6.5%

  $50,046,700

  7%

  $46,471,936

• Comparable approach

  Method

  Valuation

  Relative Method

  $48,586,296

  Geo Method

  $48,520,460

• Alternative Use

  Use

  Valuation

  Residential

  $50,046,700

  Hospitality

  $45,842,508

  Educational

  $38,140,428

  Medical

  $39,452,136

  Retail

  $59,329,556

Location Insight

City

Newburgh

County

Orange

State

New York

Latitude

41.5459

Longitude

-74.0512

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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