461 BroadwayMonticello, NY 12701

Property Details for 461 Broadway

Year built

1978

Lot size

0.30 AC

Property size (Sq ft)

4,468 SF

Zone code

RM

Property type

Investment properties

Property subtype

Retail residential properties

APN

484601 115.-6-1

APU

48460111561

Description

This exceptional 4,468-square-foot single-tenant medical office building presents a unique investment opportunity in Monticello's central business district. Situated on a 2.999-acre lot at the prominent corner of Broadway and Lakewood, this one-story, 1978-constructed building offers significant potential for a variety of uses, including medical clinics, general offices, or retail establishments. The property boasts ample parking with 20 spaces on-site, supplemented by convenient municipal parking nearby. Currently vacant, the building is ready for immediate occupancy. The zoning is B-2 Business, allowing for diverse commercial applications. Utilities are serviced by NYSEG. The property features a modified triple net lease structure, with the landlord covering base taxes at lease signing; any tax increase beyond the base amount will be the tenant's responsibility. The building's interior is currently empty, with illustrative photos showcasing previous tenant furnishings (which have been removed). The property's Assessor's Parcel Number (APN) is 4601-115-0-0006-001-000, located in Sullivan County. This is a rare opportunity to acquire a well-located, spacious commercial building in a thriving area. Don't miss this chance to establish your business in a prime Monticello location.

• CAP approach

  CAP return

  Valuation

  6%

  $1,376,301

  6.5%

  $1,270,432

  7%

  $1,179,687

• Comparable approach

  Method

  Valuation

  Relative Method

  $910,955

  Geo Method

  $904,873

• Alternative Use

  Use

  Valuation

  Residential

  $1,270,432

  Hospitality

  $1,163,709

  Educational

  $968,192

  Medical

  $1,001,490

  Retail

  $1,506,077

Location Insight

City

Monticello

County

Sullivan

State

New York

Latitude

41.6549

Longitude

-74.6881

Property Tax & Assessments

FAQs

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