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Monticello Retail/Warehouse Opportunity

184 E Broadway, Monticello, NY 12701

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For Sale

$1,295,000

Spacious retail/warehouse property with high visibility and highway access.

Type:Retail

Property size:

9,444 SF

Price / SF:

$137/SF

HighLights

High‑visibility location with easy highway access and visibility from NYS Route 17 (Interstate‑86).
Two connected buildings with three‑phase electric, offering flexibility and potential for various uses.
Ample parking space in a busy area.
Significant storage space, including a large cold storage area and loft space.
High ceilings (18‑20+ feet) suitable for diverse business operations.
Versatile property with a history of successful businesses.

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Contact an agent

Malek Properties

For Sale

$1,295,000

Spacious retail/warehouse property with high visibility and highway access.

Type:Retail

Property size:

9,444 SF

Price / SF:

$137/SF

Added:: Jul 31, 2024
Days on Market:: 705
Last Refresh:: May 13 at 8:45 pm

Property Features for 184 E Broadway

General Information

Standard status: Active
Size: 9,444 SF
Property subtype: Retail

Building Details

Year Built: 1972

We can help!

Contact an agent

Malek Properties

Listing office Malek Properties

Listing date Jul 31, 2024

Source Xome

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 and visibility from NYS Route 17 (Interstate‑86).
Two connected buildings with three‑phase electric, offering flexibility and potential for various uses.
Ample parking space in a busy area.
Significant storage space, including a large cold storage area and loft space.
High ceilings (18‑20+ feet) suitable for diverse business operations.
Versatile property with a history of successful businesses.

Overview

This property offers substantial space and ample parking in a high-traffic area of Monticello. 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. The offering includes two connected buildings with three-phase electric. One building, constructed in 1980, is a Morton building with a pitched roof, while the other, built in 1972, is a block building featuring a flat roof that was replaced in 2012. A loft space accessible by stairs adds extra square footage on a second story. An additional unit, connected to the larger building, has 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's location offers high visibility near numerous businesses and convenient highway access, with visibility from NYS Route 17 (Interstate-86). The total property size is 9444 square feet, presenting various potential 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: -74.683163
Latitude: 41.654858

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For sale
Retail space
NY
Monticello
12701
184 E Broadway

What type of property is this?

Retail space - Spacious retail/warehouse property with high visibility and highway access.

Where is this retail space located?

The property is located at 184 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 and visibility from NYS Route 17 (Interstate‑86).; Two connected buildings with three‑phase electric, offering flexibility and potential for various uses.; Ample parking space in a busy area.