109 Main St Port Jervis, NY 12771

Property Details for 109 Main St

Year built

2007

Lot size

1.30 lot acres

Property size

800 SF

Zone code

LI

Property type

Warehouses

APN

331300 11-4-3.22

APU

331300114322

Description

This exceptional self-storage facility in Port Jervis, NY, presents a compelling value-add investment opportunity. Currently boasting 80 units with 98% occupancy, generating a $73,710 NOI and a pro-forma NOI of $102,210, the property sits on a 2.2-acre lot (APN: 331300-011-000-0004-003.220-0000) at 107, 108, and 109 W Main St, conveniently located near Routes 42, 6, 209, and Route 84, two minutes from Rt. 84. The property includes six buildings, totaling approximately 19,000-21,000 square feet, with 8,336 net rentable square feet. Built in 1936 and renovated in 2007, the property is zoned for industrial use and features three stories. An additional 20 units (8x12) are to be delivered soon, increasing the unit count to 100 upon purchase. Importantly, approved plans exist for a significant expansion adding 70 units (approximately 5,000 sq ft) across three new buildings (one 10x50ft, one 10x150ft, and one 20x150ft building). This expansion alone has the potential to nearly double the annual gross income. The existing 12,000 sq ft main building offers potential for conversion to indoor self-storage or warehouse space. The 8,800 sq ft surface parking lot at 108 W Main St presents an opportunity for RV/boat storage, catering to the nearby Delaware River and Delaware Water Gap Recreation Area. The 3-5 mile radius demonstrates significant undersupply in the market, creating a strong foundation for rental rate increases. All development potential should be verified with the local municipality.