117 Washington TerNewburgh, NY 12550

Property Details for 117 Washington Ter

Year built

1957

Lot size

0.40 AC

Property size (Sq ft)

3,667 SF

Zone code

CD

Property type

Turn key restaurants

APN

331100 33-3-5.2

APU

33110033352

Description

This exceptional Newburgh, NY commercial property presents a unique investment opportunity. Located at 117 Washington Ter, this property boasts a substantial 3,667 square feet of space, currently configured as two separate units, but with the potential for future division into independent entities. The asking price is $685,000. A significant advantage is the availability of over 90 parking spaces, providing ample accommodation for customers and employees. The property's "Other" classification suggests versatility in its potential uses, making it suitable for a wide range of businesses. The building's layout and configuration offer flexibility for various business models, allowing for customization to meet specific operational needs. Its prime location in Newburgh ensures high visibility and accessibility, contributing to its overall appeal as a commercial investment. The property is also currently listed for rent under a separate MLS listing (MLS #811852), offering additional income potential. This presents a compelling opportunity for investors seeking a multi-faceted commercial property with significant upside. The property's size, parking capacity, and location combine to create a strong foundation for a successful business venture. Serious inquiries are encouraged to explore the full potential of this remarkable property.

• CAP approach

  CAP return

  Valuation

  6%

  $983,659

  6.5%

  $907,993

  7%

  $843,136

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,209,044

  Geo Method

  $1,207,408

• Alternative Use

  Use

  Valuation

  Residential

  $765,926

  Hospitality

  $701,584

  Educational

  $583,710

  Medical

  $603,785

  Retail

  $907,993

Location Insight

City

Newburgh

County

Orange

State

New York

Latitude

41.5012

Longitude

-74.0326

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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