Renovated Medical Office
For Sale
$388,000
149 Broadway, Newburgh, NY 12550
One occupant has maintained a tenancy at the property for more than 20 years.
Property Size1,958 SF
Price / SF$198.16
Days on Market277
Property Features for 149 Broadway
General Information
Standard status
Active
Size
1,958 SF
Property subtype
Commercial
Zoning
BC
Net Operating Income
$42,000
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$5,841
Building Details
Building Size
1,958 SF
Tenancy
Single
Listing Agency:
Keller Williams Realty
(845) 928-8000
Listed By:
Craig Pelsue
(845) 527-5572
Source:
Croninreale
Added: Jan 21
Changed: Oct 23
Last Checked: Oct 23 at 3:25PM
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 Keller Williams Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This renovated medical office property is configured as a narrow building on a corner parcel. It is zoned BC and occupied by a single tenant with a history of more than 20 years at the property.
The current tenant has a renewal option scheduled in 1.5 years, providing a defined upcoming lease milestone.
The current tenant has a renewal option scheduled in 1.5 years, providing a defined upcoming lease milestone.
Key Highlights
- Single tenant has occupied the property for more than 20 years
- BC zoning
- Corner location
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,815
Cap Rate
8.97%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,300
$696.3K
Cap Rate 7%
$497,357
$497.4K
Cap Rate 9%
$386,833
$386.8K
Market Conditions
NOI Build-Up for 1,958 SF
Gross rent
$65.8K $33.60/SF
− Vacancy
−$7.8K −$3.96/SF
EGI
$58.0K $29.64/SF
− OpEx
−$23.2K −$11.85/SF
NOI
$34.8K $17.78/SF
Area
Orange County, NY
Vacancy
11.80%
Lease Rate
$33.60 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$696,300
Cap Rate 7%
$497,357
Cap Rate 9%
$386,833
Alternative Uses
Best Use
Healthcare Medical
$497.4K
$435.2K – $580.3K
NOI $34,815 @ 7.0% cap · market cap 8.97%
Second Best
Office B
$468.0K
$409.5K – $546.1K
NOI $32,763 @ 7.0% cap · market cap 8.44%
Theoretical Best
Office A
$663.2K
$580.3K – $773.7K
NOI $46,421 @ 7.0% cap · market cap 11.96%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,562
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 12550, NY
55,869
Population
22,204
Households
2.5
Avg Household Size
37
Median Age
26%
College-Educated
86%
High-School Grad
34.7 sq mi
ZIP Area
1,610
Density / Sq Mi
$78,019
Median Household Income
$40,762
Median Earnings
$1,466
Median Rent
$297,400
Median Home Value
Market
Vacancy Rate% for Office in Northeast region
Similar Off Market Nearby
- West End Veterinary Office — 41 Fullerton Ave, Newburgh, NY 12550
Frequently Asked Questions
What type of property is this?
Medical Office Space - One occupant has maintained a tenancy at the property for more than 20 years.
Where is this medical office space located?
The property is located at 149 Broadway Newburgh, NY.
What is the asking price?
The asking price for this property is $388,000.
What are key features of this property?
This property features: Single tenant has occupied the property for more than 20 years; BC zoning; Corner location
