Current Use by Public Records
- T-Shirt Farm / Custom T-Shirt Store
Property Details for 22 Main St
- Year built
- 1935
- Lot size
- 0.05 lot acres
- Property type
- Retail properties & Spaces
- Property subtype
- Retail space
Description
This exceptional value-add investment opportunity presents a three-story, 4,038 square foot storefront building located at 22 Main Street in Millerton, New York. Boasting a strong 95% occupancy rate across eight units, the property generates a substantial net operating income (NOI) of $44,925, translating to a compelling 6.28% capitalization rate. The asking price is $715,000, representing a price per square foot of $177.07. The building, constructed in 1935, features a mix of retail spaces on the main street level and five executive suites on the second floor, catering to a diverse tenant base. Situated on a 0.05-acre lot, the property is zoned GB and benefits from its prime location on a vibrant Main Street, characterized by high foot traffic and ongoing municipal improvements. Detailed financial information, including income and expense statements, is available upon request. This multi-tenant property offers a stable income stream and significant potential for future appreciation, making it an attractive investment for discerning buyers. The building has been meticulously maintained throughout its history.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Millerton
- County
- Dutchess
- State
- New York
- Longitude
- -73.5109
- Latitude
- 41.9535
