226 Ny-17K Newburgh, NY 12550

Property Details for 226 Ny-17K

Year built

2024

Lot size

5.90 lot acres

Property size

12,000 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity presents a 12,000-square-foot Class A warehouse in Newburgh, New York, currently leased to Sunbelt Rentals, a leading equipment rental company with an investment-grade credit rating (S&P: BBB-). The property, a 2024 new construction build-to-suit, boasts ample outdoor storage and multiple service bays, perfectly designed to meet Sunbelt's operational needs. Situated at the intersection of I-84 and I-87, this strategically located asset enjoys a large service radius, covering a 45-60 mile area north of New York City and south of Albany. The property benefits from its high-demand industrial outdoor storage (IOS) asset class and its proximity to other national tenants, including Amazon, FedEx, UPS, Estes Express, Ryder, and Pilot Travel Center. The 10-year net lease commenced October 1, 2024, and includes rent bumps: years 1-3 are flat, years 4-5 increase by 3% annually, and years 6-10 increase by 2% annually. Three five-year lease options are also included, providing long-term stability and predictable cash flow. The asking price is $7,902,517, representing a 6.00% cap rate with a net operating income (NOI) of $474,151. The 5.9-acre lot offers a land value of $658.54 per square foot. This is a rare opportunity to acquire a high-quality, strategically located industrial asset with a strong, creditworthy tenant and significant long-term growth potential.

Location Insight

City

Newburgh

County

Orange

State

New York

Longitude

-74.1057

Latitude

41.5176