420 Clock Tower Cmns Dr Brewster, NY 10509

Property Details for 420 Clock Tower Cmns Dr

Year built

1990

Lot size

10.00 lot acres

Property size

59,928 SF

Property type

Retail properties & Spaces

Property subtype

Restaurants

Description

This exceptional mixed-use property, Clock Tower Commons, presents a compelling investment opportunity. Located in Brewster, New York, this Class A asset boasts 59,928 square feet across eight, two-story buildings situated on a 10-acre lot. Currently 90% occupied by a diverse tenant mix including restaurant, medical office, and retail spaces, the property generates a strong net operating income (NOI) of $797,000. The weighted average remaining lease term (WALT) is a solid 4.8 years, providing excellent lease stability. The property features ample parking (25 spaces per 1,000 sq ft) and benefits from a prime location on Route 22, a major regional thoroughfare, just 2.5 miles from the intersection of Interstates 84 and 684, and only 60 miles north of New York City. The property is zoned SR 22. Its strategic location near the Brewster Metro-North train station (less than 10 minutes away) and proximity to major shopping centers like The Highlands Retail Center and Danbury Fair Mall further enhances its appeal. The surrounding area is experiencing significant growth, with planned developments adding residential units, retail, and dining options, promising continued market strength. Currently, 25% of the space is occupied by medical office tenants, indicating a growing sector within the property. This is a rare opportunity to acquire a well-positioned, high-performing mixed-use asset in a thriving market.

Location Insight

City

Brewster

County

Putnam

State

New York

Longitude

-73.5727

Latitude

41.4201