Current Use by Public Records
- Retail properties & Spaces
Property Details for 1627-1635 Rt 9W
- Year built
- 2005
- Lot size
- 23.52 lot acres
- Property type
- Retail properties & Spaces
- 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.
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
- Selkirk
- County
- Albany
- State
- New York
- Longitude
- -73.8111
- Latitude
- 42.5233
