259 State Route 17BMonticello, NY 12701

Property Details for 259 State Route 17B

Year built

1990

Lot size

2.50 AC

Property size (Sq ft)

2,827 SF

Zone code

CI

Property type

Bars

APN

484689 18.-1-22

APU

48468918122

Description

This exceptional 2.5-acre commercial property at 259 State Route 17B in Monticello, NY, presents a unique investment or redevelopment opportunity. Boasting 206 feet of road frontage on a highly trafficked route (13,878 AADT in 2019), this site benefits from its strategic location near prominent attractions including Bethel Woods Center for the Arts, Resorts World Casino, Monticello Motor Club, and Monticello Raceway. Currently zoned CI, allowing for diverse uses, the property includes a substantial existing building, formerly a nightclub/bar, complete with a transferable liquor license. The large parking lot offers ample space for customers and potential expansion. The property's level land makes it ideal for redevelopment, aligning with the ongoing revitalization efforts transforming Monticello and the State Route 17B corridor. The seller is open to leasing the property at a net-net-net (NNN) rate of $4,750 per month. This presents a compelling opportunity to capitalize on the area's growth and establish a thriving business in a prime location. The existing structure offers immediate occupancy potential, while the expansive land provides significant flexibility for future development.

• CAP approach

  CAP return

  Valuation

  6%

  $1,032,338

  6.5%

  $952,927

  7%

  $884,861

• Comparable approach

  Method

  Valuation

  Relative Method

  $937,084

  Geo Method

  $930,827

• Alternative Use

  Use

  Valuation

  Residential

  $803,830

  Hospitality

  $736,304

  Educational

  $612,596

  Medical

  $633,664

  Retail

  $952,927

Location Insight

City

Monticello

County

Sullivan

State

New York

Latitude

41.6656

Longitude

-74.7224

Property Tax & Assessments

FAQs

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