Overview
This exceptional mixed-use property at 185 Broadway, Newburgh, NY 12550, presents a compelling investment opportunity. The 4,640 square foot building, situated on a 0.054-acre lot, boasts a prime location in the Broadway Corridor, benefiting from high visibility and significant traffic volume exceeding 15,000 cars daily. Completely renovated in 2024, this three-story structure comprises one street-level commercial space and four residential units, currently enjoying 100% occupancy with five tenants. The building features a new roof, floors, walls, ductless heating and air conditioning units, water heaters, bathrooms, kitchens, and windows. Municipal water, sewer, and gas services are readily available. The commercial space, previously a laundromat, retains a two-inch water line, making it ideal for businesses with high water usage needs, such as another laundromat, salon, restaurant, or spa. The property offers a strong net operating income (NOI) of $68,049, translating to an attractive 8.52% capitalization rate at an asking price of $799,000 ($172.20 per square foot). Conveniently located near the airport, bus stop, ferry, and train, this turn-key investment provides immediate cash flow and significant potential for future appreciation. The property's permitted zoning is Broadway Corridor.
