12 Church St Goshen, NY 10924-1540
- Investment properties
- 5,678 SF
- 0.14 lot acres
Mar 14, 2024
Current Use by Public Records
- Vigo / Money Transfer Service / Money Order Service
Property Details for 12 Church St
- Year built
- 1940
- Lot size
- 0.14 lot acres
- Property size
- 5,678 SF
- Zone code
- 4011
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 333001 108-7-10
- APU
- 333001108710
Description
This exceptional mixed-use building is ideally situated in the heart of Goshen, NY. The property boasts a prime commercial space on the first floor, currently partially occupied by a thriving small grocery store, with additional vacant commercial space offering significant upside potential. The upper two floors provide two residential rental units, each presenting a strong rental income stream. Past tenants have included a diverse range of businesses, demonstrating the versatility and appeal of this location. The building's potential is undeniable, given its central location and the possibility of leasing the vacant commercial spaces. Projected annual rental income is substantial, with estimates of $1,800 per residential apartment and varying commercial rental rates ranging from $1,000 to $2,000 per unit. This translates to a significant return on investment. The property is offered at $799,000. Annual expenses, encompassing taxes, water, sewer, snow removal, and lawn maintenance, are approximately $28,000. This presents a compelling opportunity for an investor seeking a strong cash flow property in a desirable location. The building's history of successful occupancy across various business types underscores its adaptability and enduring appeal. The vacant spaces offer a blank canvas for a savvy investor to tailor the property to their vision and maximize its income potential. This is a rare opportunity to acquire a well-located, mixed-use property with immediate income generation and significant long-term growth prospects.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $685,000
- ML approach
- $685,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $825,000
- 6.5%
- $760,000
- 7%
- $705,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $578,000
- AI Estimate
- $488,000
Market price range: $395k - $946kMarket price range: $264k - $876k -
Alternative Use
- Use
- Estimation
- COMMERCIAL (GENERAL)
- $700,000 Current use
- OFFICE BUILDING
- $1,080,000 Change: +54% Conversion: Easy
- AUTO REPAIR, GARAGE
- $950,000 Change: +36% Conversion: Difficult
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Location Insight
- Map
- Local Demand
- City
- Goshen
- County
- Orange
- State
- New York
- Longitude
- -74.3242
- Latitude
- 41.4025
- CBSA code
- 39100
- CBSA name
- POUGHKEEPSIE-NEWBURGH-MIDDLETOWN, NY METROPOLITAN STATISTICAL AREA
