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    320 Broadway Monticello, NY 12701

    Sponsored
    For Sale
    $2,500,000

    2-acre commercial/residential site

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2.01-acre development site, located at 320 E Broadway in Monticello, NY (zip code 12701), presents a remarkable investment opportunity. Zoned EVB, this property offers significant potential for a diverse range of uses, including residential (one-family and two-family dwellings), commercial (retail stores, offices, restaurants), and specialized developments such as daycare centers, places of worship, greenhouses, and more. Special permits allow for mixed-use developments, schools, libraries, museums, hotels, motels, bed and breakfasts, hospitals, nursing homes, assisted living facilities, funeral homes, gas stations, and commercial recreation facilities, including indoor assisted living. The site boasts a prime location directly across from the Mountain Shopping Mall in the heart of downtown Monticello, providing convenient access to banks, various food establishments, and ample shopping options. The Monticello Racetrack is also just minutes away, enhancing the property's appeal and potential for attracting a wide range of clientele. The asking price for this versatile and strategically positioned land is $2,500,000. This is an ideal opportunity for developers seeking a high-impact project in a thriving community.

    Property Features for 320 Broadway

    General Information

    Property type
    Land
    Lot Size
    87,556 SF

    HighLights

    • Zoned for single‑family, multi‑family (two‑family), daycare, house of worship, and greenhouse/nursery uses.
    • Special permits allow mixed‑use development, schools, libraries, hotels, hospitals, retail, offices, restaurants, funeral homes, gas stations, indoor recreation, and auto repair.
    • Excellent residential development potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Monticello
    County
    Sullivan
    State
    New York
    Longitude
    -74.676768
    Latitude
    41.6529979

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    FAQs

    What type of property is this?
    Land - 2-acre commercial/residential site
    Where is this land located?
    The property is located at 320 Broadway Monticello, NY.
    What is the asking price?
    The asking price for this property is $2,500,000.
    What are key features of this property?
    This property features: Zoned for single-family, multi-family (two-family), daycare, house of worship, and greenhouse/nursery uses.; Special permits allow mixed-use development, schools, libraries, hotels, hospitals, retail, offices, restaurants, funeral homes, gas stations, indoor recreation, and auto repair.; Excellent residential development potential.
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    Monticello, NY 12701
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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
    320 Broadway Monticello, NY 12701
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