Mixed-Use Property with Income Potential

88 Monhagen Avenue, Middletown, NY 10940

View on Map

For Sale

$979,000

Mixed-use property featuring office, garage, and apartments for sale.

Type:Commercial

Property size:

3,000 SF

Lot size:

1.15 Acres

Price / SF:

$326/SF

HighLights

Income‑generating property featuring 3 fully rented apartments, including two 2‑bedroom units and one 3‑bedroom unit.
Large 1.15‑acre fenced lot consisting of 3 parcels within the city.
3000 sq ft heated garage with 12‑foot doors, 13‑foot ceiling, office, and restroom.
Main office building with kitchenette and conference room, highly visible.
Ample parking space for vehicles and machinery.
Tenants pay their own heat and electric.

We can help!

Listing Contact

PEDRO GARCIA

For Sale

$979,000

Mixed-use property featuring office, garage, and apartments for sale.

Type:Commercial

Property size:

3,000 SF

Lot size:

1.15 Acres

Price / SF:

$326/SF

Added:: Apr 11, 2025
Days on Market:: 426
Last Refresh:: Apr 5 at 9:02 pm

Property Features for 88 Monhagen Avenue

General Information

Standard status: Active
Size: 3,000 SF
Lot size: 1.15 Acres
Property subtype: Commercial

Building Details

Year Built: 1950

We can help!

Listing Contact

PEDRO GARCIA

Listing agent PEDRO GARCIA License #40GA0948158

Listing office CURASI REALTY, INC.

Listing date Apr 11, 2025

Source Corcoran

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

All listing content including descriptions, pricing, images are the copyrighted material of CURASI REALTY, INC.

HighLights

Income‑generating property featuring 3 fully rented apartments, including two 2‑bedroom units and one 3‑bedroom unit.
Large 1.15‑acre fenced lot consisting of 3 parcels within the city.
3000 sq ft heated garage with 12‑foot doors, 13‑foot ceiling, office, and restroom.
Main office building with kitchenette and conference room, highly visible.
Ample parking space for vehicles and machinery.
Tenants pay their own heat and electric.

Overview

This mixed-use property offers an opportunity for business growth or startup, complemented by rental income from three apartments. Situated on approximately 1.15 fenced-in acres comprising three parcels within the City of Middletown, the property includes a two-level main office building. The office features a kitchenette and conference room. The yard provides ample parking space for vehicles and machinery. A 3,000-square-foot garage is suitable for storage and vehicle maintenance, equipped with 12-foot garage doors, a 13-foot ceiling height, heating, an office, and a restroom. The property also includes three fully rented apartments: two with two bedrooms each, and one with three bedrooms. Tenants are responsible for their own heating and electric expenses. The location offers high visibility with substantial daily traffic.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$105.8k	$35.28
− Vacancy	−$3.8k	−$1.27
EGI	$102.0k	$34.01
− OpEx	−$45.9k	−$15.30
NOI	$56.1k	$18.71

3,000 SF · lease $35.28/SF/yr · vacancy 3.60% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$801.7K

$701.5K – $935.3K (±1% cap)

NOI $56,116 @ 7.0% cap · market cap 5.73%

Second Best

Office B

$717.1K

$627.5K – $836.6K (±1% cap)

NOI $50,198 @ 7.0% cap · market cap 5.13%

Theoretical Best

Office A

$1.02M

$889.1K – $1.19M (±1% cap)

NOI $71,124 @ 7.0% cap · market cap 7.26%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

TKC Landscaping Landscaping BOYCE EXCAVATING Corporate Office

Suggested Use

Location Insight

Map
Local Demand

City: Middletown
County: Orange
State: New York
Longitude: -74.4303
Latitude: 41.4473

Nearby Similar for Sale

$3,000,000

24,000 SF

Iconic Brewery & Entertainment Venue

Fully operational brewery, restaurant, and entertainment venue in Middletown, NY.

22 Cottage Street, Middletown, NY 10940

View Details
$799,000

Versatile Industrial Shell in Middletown

Industrial space with high power, flexible zoning, and great location.

8 John Street, Middletown, NY 10940

View Details
$575,000

2,000 SF

Mixed-Use Building in Downtown Middletown

Income-producing property with commercial space and residential apartments.

20 John Street, Middletown, NY 10940

View Details
$630,000

Spacious Two-Family Home, Middletown, NY

Two-family home with 6 and 4-bedroom units, great location.

317 E Main Street, Middletown, NY 10940

View Details
$700,000

3,600 SF

Office Building on Large Lot

3600 sqft office building on 3-acre lot for sale.

39 Bloomingburg Rd, Middletown, NY 10940

View Details
$880,000

Middletown Commercial Space For Sale

High-visibility commercial space suitable for retail, medical, or financial use.

357 E Main Street, Middletown, NY 10940

View Details
$439,990

1,338 SF

Middletown Two-Family Investment Opportunity

Spacious two-family home with strong rental income potential.

14 Bonnell Street, Middletown, NY 10940

View Details
$3,500,000

Middletown Mixed-Use Warehouse Compound

44000SF mixed-use warehouse on 1.4 acres with multiple entrances.

14-20 Cottage Street, Middletown, NY 10940

View Details
$125,000

Turnkey Restaurant Business For Sale

Fully equipped restaurant with high visibility and ample parking.

540 Bloomingburg Road, Middletown, NY 10940

View Details
$2,555,000

Mixed-Use Building in Downtown Middletown

Updated mixed-use building with apartments and retail in downtown Middletown.

104 North Street, Middletown, NY 10940

View Details
$599,900

Middletown Duplex: Investment Opportunity

Well-maintained duplex in Middletown with strong income potential.

215 Linden Avenue, Middletown, NY 10940

View Details
$399,900

Renovated Mixed-Use Property, Middletown

Two-unit property with commercial zoning, ideal for owner-user or investor.

25 Mill Street, Middletown, NY 10940

View Details

For sale
Mixed-use properties
NY
Middletown
10940
88 Monhagen Avenue

What type of property is this?

Mixed-use property - Mixed-use property featuring office, garage, and apartments for sale.

Where is this mixed-use property located?

The property is located at 88 Monhagen Avenue Middletown, NY.

What is the asking price?

The asking price for this property is $979,000.

What are key features of this property?

This property features: Income‑generating property featuring 3 fully rented apartments, including two 2‑bedroom units and one 3‑bedroom unit.; Large 1.15‑acre fenced lot consisting of 3 parcels within the city.; 3000 sq ft heated garage with 12‑foot doors, 13‑foot ceiling, office, and restroom.