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    15 Matthews St Goshen, NY 10924

    Sponsored
    For Sale
    $5,500,000

    High-visibility office building, strong upside potential.

    Property size:
    42,210 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    This three-story, 42,210 square foot Class B office building in Goshen, NY, presents a compelling value-add investment opportunity. Located at 15 Matthews St, this property boasts a prime location directly off Route 17 (I-86), with over 67,000 vehicles passing daily, ensuring high visibility and excellent signage opportunities. Currently 60% occupied with 16 tenants across 22 units, the building offers significant upside potential. The current Net Operating Income (NOI) is $82,511, but a pro-forma NOI of $367,978 is projected upon full occupancy, resulting in a pro-forma cap rate of 6.69%. Built in 1988 and renovated in 2024, the building features a brick exterior, large windows, a loading dock, and an elevator. A substantial 14,274 square feet of vacant space on the ground floor is ready for tenant improvements, allowing for customization to attract high-quality tenants. The asking price is $5,500,000, with a current price per square foot of $130.30. The 2.4-acre lot is zoned DS. Rent bumps are permitted. This property offers a rare chance to acquire a well-located office building with substantial room for growth and increased profitability. The building's modern amenities, combined with its strategic location and the potential for significant rent increases, make it an attractive investment for those seeking a value-add opportunity in a thriving market.

    Property Features for 15 Matthews St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    42,210 SF
    Class
    B
    Lot Size
    104,544 SF

    Building Details

    Year Built/Renovated
    1988/2024
    Buildings
    1
    Stories
    3
    Units
    22

    HighLights

    • High‑traffic location in Goshen, NY, with excellent highway visibility and over 67,000 cars daily.
    • Modern, bright building with significant upside potential through improved management.
    • Currently 40% vacant, offering immediate leasing opportunities.
    • Ground floor is fully gutted and ready for tenant improvements (TI).
    • Features a loading dock and elevator.
    • Prime Goshen location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Tracy Laufer, DC Chiropractor ATM Atm Sung J Sohn, ... Medical Office MSB Bank Bank Moscatello Therapy Counselor

    Suggested Use

    Restaurant Realty agency Building Supply Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Goshen
    County
    Orange
    State
    New York
    Longitude
    -74.3372105
    Latitude
    41.3972211

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    FAQs

    What type of property is this?
    Office Property / Space - High-visibility office building, strong upside potential.
    Where is this office property / space located?
    The property is located at 15 Matthews St Goshen, NY.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: High-traffic location in Goshen, NY, with excellent highway visibility and over 67,000 cars daily.; Modern, bright building with significant upside potential through improved management.; Currently 40% vacant, offering immediate leasing opportunities.
    Request Owner's contact information
    15 Matthews St Goshen, NY 10924
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    Goshen, NY 10924
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    15 Matthews St Goshen, NY 10924
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