4115-4125 Ny-28 Boiceville, NY 12412

Property Details for 4115-4125 Ny-28

Year built

1970

Lot size

1.98 lot acres

Property size

42,000 SF

Property type

Office Properties & Spaces

Property subtype

Mixed-use properties

Description

This exceptional mixed-use property in Boiceville, NY, presents a compelling investment opportunity. Located on NY-28, a high-traffic route (7,000 vehicles daily), this 42,000 square foot property boasts a prime location at the gateway to the Catskills. The two-story building, constructed in 1970, sits on a 1.98-acre lot and features seven units, including a large commercial space (previously a lumber yard and salvage retail store) offering over 35,000 square feet of versatile office, retail, and warehouse space with excellent visibility. Currently, the property includes a Post Office, restaurant, antique shop, and café/catering business. The large vacant commercial storefront with warehouse space is available for lease at $4,500 per month. The property benefits from updated systems, including the roof, heating, and cooling units, and municipal sewer access. The current NOI is $43,550, with a pro-forma NOI of $107,514, resulting in a pro-forma cap rate of 13.52%. The asking price is $795,000, yielding a current cap rate of 5.48%. A non-compete agreement for a neighboring grocery business is in place for 10 years. The seller estimates $17,000 for window replacement on the boarded-up front section, pending buyer preference for building reconfiguration. Detailed financial information is available upon request. This property offers significant potential for growth and strong returns in a vibrant and desirable location. The net rentable square footage is 37,000 square feet, with a price per square foot of $18.93.

Location Insight

City

Boiceville

County

Ulster

State

New York

Longitude

-74.2687

Latitude

42.0074