1 Main StWalden, NY 12586

Property Details for 1 Main St

Year built

1965

Lot size

0.03 AC

Property size (Sq ft)

3,750 SF

Zone code

B3

Property type

Investment properties

Property subtype

Live-work space

APN

334205 309-8-7

APU

33420530987

Description

This exceptional mixed-use property in Walden, NY, presents a lucrative investment opportunity. Located at 1 Main St, this three-story building boasts 3,750 square feet and comprises a former pizzeria restaurant and three residential apartments, currently housing four tenants under a modified lease. The property offers a compelling blend of commercial and residential income streams, providing a strong foundation for a solid return on investment. The asking price is $749,900, translating to $199.97 per square foot. The pro-forma net operating income (NOI) is calculated at $58,664, yielding a 7.82% capitalization rate. Recent updates include a new roof and hot water tank (2020), minimizing immediate maintenance concerns. Situated in the heart of Walden, this property benefits from its proximity to popular attractions such as Angry Orchard and Wooster Grove Park. The town's strategic location and upcoming dinosaur theme park promise continued growth and potential for increased property value. This turnkey operation is ready for a new owner to capitalize on its existing income and further develop its potential. The property features one building with four units and is situated in Orange County, NY, zip code 12586. This is a rare chance to acquire a well-maintained, income-generating property in a vibrant and growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $931,558

  6.5%

  $859,900

  7%

  $798,478

• Comparable approach

  Method

  Valuation

  Relative Method

  $493,268

  Geo Method

  $489,975

• Alternative Use

  Use

  Valuation

  Residential

  $1,066,276

  Hospitality

  $976,703

  Educational

  $812,605

  Medical

  $840,552

  Retail

  $1,264,053

Location Insight

City

Walden

County

Orange

State

New York

Latitude

41.5605

Longitude

-74.1873

CBSA code

39100

CBSA name

POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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