1627-1635 Rt 9W Selkirk, NY 12158

Property Details for 1627-1635 Rt 9W

Year built

2005

Lot size

23.52 lot acres

Property size

6,000 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This turnkey investment opportunity presents a rare chance to acquire a well-established mixed-use property situated on a highly visible 400-foot frontage along US Route 9W in Selkirk, New York. The property encompasses 23.52 acres of land, including a wooded area, and features two existing buildings totaling 6,000 square feet. Currently operating as a storage business, the property boasts 104 existing storage units and has received town approval for an additional 500 units, presenting significant expansion potential. The existing buildings include a 2,800 square-foot, 1960s red brick structure. The property also benefits from a 10-year-old well and septic system, a 4-year-old roof, and a 2-year-old natural gas furnace. The asking price is $1,500,000, with a current NOI of $90,446 and a 3.00% cap rate. The property is zoned MU (Mixed Use) and offers ample opportunity for expansion into private events or other business ventures. The current vacancy rate is between 3-4%. Property taxes are combined for both parcels. This is an exceptional opportunity for investors seeking a strong return in a desirable upstate New York location.