155 Vineyard Ave Highland, NY 12528

This exceptional 95,000 square foot industrial property, located at 155 Vineyard Ave, Highland, NY 12528, presents a compelling redevelopment or operational opportunity. Situated on a 2.9-acre lot in Ulster County, this Class C property boasts two buildings, each two stories high, with a permitted LI zoning designation. Built in 1926 and renovated in 1968, the property features 4 loading docks and 4 dock-high doors, along with an impressive 18-foot ceiling height. Currently operating at 10% occupancy (as of March 31, 2023), this multi-tenant property offers significant upside potential. The asking price is $2,900,000, representing a price per square foot of $30.53 and a land value of $38 per square foot. The property is offered as a Net Lease and is owned by an LLC. Its prime location in a rapidly growing area makes it ideal for conversion to self-storage, residential, senior housing, or assisted living facilities. Alternatively, it can serve as a cost-effective warehouse and distribution center. This is a unique opportunity to acquire a substantial industrial property with significant redevelopment potential at an attractive price point and a 9% cap rate.