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Monticello Retail/Warehouse Opportunity

184-186 E Broadway, Monticello, NY 12701

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For Sale

$1,295,000

Spacious retail/warehouse property with high visibility and ample parking.

Type:Commercial/Industrial

Property size:

9,444 SF

Lot size:

1.00 Acre

Price / SF:

$137/SF

HighLights

High visibility location with easy highway access from NYS Route 17 (Interstate‑86).
Two separate buildings connected with three‑phase electric, suitable for various business uses.
Ample parking space in a busy area.
Significant storage space including a large 'cold storage' area and loft space.
Benefit from high ceilings (18+\/- feet and over 20 feet).
Versatile property with a history of diverse uses.

We can help!

Listing Contact

Carol Malek

For Sale

$1,295,000

Spacious retail/warehouse property with high visibility and ample parking.

Type:Commercial/Industrial

Property size:

9,444 SF

Lot size:

1.00 Acre

Price / SF:

$137/SF

Added:: Aug 1, 2024
Days on Market:: 683
Last Refresh:: May 19 at 11:10 pm

Property Features for 184-186 E Broadway

General Information

Standard status: Active
Size: 9,444 SF
Lot size: 1.00 Acre
Property subtype: Commercial/Industrial

Building Details

Year Built: 1972

We can help!

Listing Contact

Carol Malek

Listing agent Carol Malek License #31MA1121533

Listing office Malek Properties

Listing date Aug 1, 2024

Source Exitrealty

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 Malek Properties

HighLights

High visibility location with easy highway access from NYS Route 17 (Interstate‑86).
Two separate buildings connected with three‑phase electric, suitable for various business uses.
Ample parking space in a busy area.
Significant storage space including a large 'cold storage' area and loft space.
Benefit from high ceilings (18+\/- feet and over 20 feet).
Versatile property with a history of diverse uses.

Overview

This property, located in a busy area of Monticello, offers substantial space and extensive parking. Currently used as a furniture retail store and warehouse, the property has previously served as an auction house, used car sales lot, and tire business. It comprises two connected buildings with three-phase electric. One building, a Morton building with a pitched roof, was constructed in 1980. The other is a block building with a flat roof that was replaced in 2012, and was built in 1972. Stairs lead to a loft space, adding significant square footage on the second story. An additional unit, connected to the larger building, features a separate entrance and a second story. A large cold storage area at the back provides further storage capacity. Ceiling heights reach 18+/- feet in one section and exceed 20 feet in another. The property benefits from high visibility and easy highway access, and is visible from NYS Route 17 (Interstate-86). The property offers many possible uses.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$170.0k	$18.00
− Vacancy	−$7.1k	−$0.76
EGI	$162.9k	$17.24
− OpEx	−$48.9k	−$5.17
NOI	$114.0k	$12.07

9,444 SF · lease $18.00/SF/yr · vacancy 4.20% · expense 30.00%

Alternative Uses

Best Use

Retail

$1.63M

$1.42M – $1.90M (±1% cap)

NOI $113,997 @ 7.0% cap · market cap 8.80%

Second Best

Warehouse

$1.37M

$1.20M – $1.60M (±1% cap)

NOI $96,063 @ 7.0% cap · market cap 7.42%

Theoretical Best

Office A

$2.59M

$2.27M – $3.02M (±1% cap)

NOI $181,325 @ 7.0% cap · market cap 14.00%

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

Property Profile Location Intelligence

Current Use by Public Records

Retail space

Suggested Use

Location Insight

Map
Local Demand

City: Monticello
County: Sullivan
State: New York
Longitude: -74.6832
Latitude: 41.6549

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For sale
Retail space
NY
Monticello
12701
184-186 E Broadway

What type of property is this?

Retail space - Spacious retail/warehouse property with high visibility and ample parking.

Where is this retail space located?

The property is located at 184-186 E Broadway Monticello, NY.

What is the asking price?

The asking price for this property is $1,295,000.

What are key features of this property?

This property features: High visibility location with easy highway access from NYS Route 17 (Interstate‑86).; Two separate buildings connected with three‑phase electric, suitable for various business uses.; Ample parking space in a busy area.