82 Prince St Kingston, NY 12401-4651

Property Details for 82 Prince St

Year built

1900

Lot size

1.00 lot acres

Property size

30,521 SF

Zone code

C-3

Property type

Warehouses

APN

510800 56.26-9-44

APU

5108005626944

Description

This exceptional Kingston, NY investment opportunity presents a 30,956 square foot, two-story light industrial/manufacturing building situated on a one-acre lot. The property, built in 1900, is currently 84% occupied by nine tenants across ten units, offering a mix of light industrial, office, and storage spaces. The building boasts a strong current NOI of $146,658, translating to a 5.53% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $201,250, resulting in an attractive 7.59% pro-forma cap rate, highlighting the substantial redevelopment potential. The asking price is $2,650,000, or $265,000 per unit, and $85.61 per square foot. The property is zoned C-3, allowing for a variety of uses. Ample parking is available on-site. Approximately 5,000 square feet of second-floor space is potentially available for expansion or user occupancy. This strategically located property is just 90 miles from New York City and 60 miles from Albany, offering convenient access to major highways. This presents a compelling opportunity for both investors seeking strong returns and owner-occupants looking for a versatile industrial space with significant upside. The gross lease structure simplifies management, and the multi-tenant setup provides diversified income streams.

Location Insight

City

Kingston

County

Ulster

State

New York

Longitude

-73.9986

Latitude

41.9288

CBSA code

28740

CBSA name

KINGSTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments