145 State Route 17BMonticello, NY 12701

Property Details for 145 State Route 17B

Year built

1975

Lot size

0.78 AC

Property size (Sq ft)

4,117 SF

Zone code

B1

Property type

Turn key restaurants

APN

484601 102.-3-6

APU

48460110236

Description

This exceptional commercial restaurant property at 145 State Route 17B in Monticello, NY, presents a unique investment opportunity. The building offers a substantial 7,319 square feet of space, divided between a 4,000 square foot first floor and a 3,000 square foot basement. The basement is well-suited for various uses, including ballrooms or expanded kitchen facilities. A significant advantage is the expansive 5,000 square foot parking area, ensuring ample space for customers and staff. The property enjoys a prime location on a busy main road, providing excellent visibility and accessibility. Its proximity to the Monticello Casino and numerous surrounding shopping and dining establishments further enhances its appeal. While some renovations are needed, the potential for this property is considerable, making it attractive to investors and entrepreneurs seeking to capitalize on the thriving local economy. The property sits on a 0.78-acre lot. An adjacent property is also available for purchase

• CAP approach

  CAP return

  Valuation

  6%

  $1,503,408

  6.5%

  $1,387,761

  7%

  $1,288,636

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,364,688

  Geo Method

  $1,355,577

• Alternative Use

  Use

  Valuation

  Residential

  $1,170,629

  Hospitality

  $1,072,290

  Educational

  $892,132

  Medical

  $922,814

  Retail

  $1,387,761

Location Insight

City

Monticello

County

Sullivan

State

New York

Latitude

41.6639

Longitude

-74.7123

Property Tax & Assessments

FAQs

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