485 BroadwayMonticello, NY 12701

Property Details for 485 Broadway

Year built

1930

Lot size

0.17 AC

Property size (Sq ft)

3,461 SF

Zone code

B2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

484601 111.-7-5

APU

48460111175

Description

This exceptional retail property, situated on Broadway in the heart of Monticello, NY, presents a compelling investment opportunity. The 6,922 square foot building sits on a 0.17-acre lot and comprises four units, currently boasting two long-term tenants. One tenant occupies both a restaurant space and a smaller office space with a separate entrance. The office space includes a kitchen, open area, and bathroom. The second office unit offers space for a desk and storage. The building has undergone significant recent improvements, including a new roof, new gutters, and new soffits. The crawl space has been completely renovated with new water pipes, a new water meter, a new sump pump, and added foam insulation. For simplified billing, individual electric meters have been installed for each unit. A security camera system is in place, capable of storing approximately two weeks of footage. This turnkey property offers a strong 7.7% cap rate, and detailed financial information is available upon request for qualified buyers. This is a rare chance to acquire a well-maintained, high-traffic retail building in a desirable location. The property's strong tenancy and recent upgrades make it an attractive investment for those seeking a stable and profitable commercial venture.

• CAP approach

  CAP return

  Valuation

  6%

  $1,066,110

  6.5%

  $984,101

  7%

  $913,808

• Comparable approach

  Method

  Valuation

  Relative Method

  $705,644

  Geo Method

  $700,932

• Alternative Use

  Use

  Valuation

  Residential

  $984,101

  Hospitality

  $901,432

  Educational

  $749,981

  Medical

  $775,774

  Retail

  $1,166,636

Location Insight

City

Monticello

County

Sullivan

State

New York

Latitude

41.6555

Longitude

-74.6899

Property Tax & Assessments

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