90 Sullivan St Wurtsboro, NY 12790

Property Details for 90 Sullivan St

Year built

1978

Lot size

0.53 lot acres

Property size

7,076 SF

Property type

Commercial real estate

Description

This exceptional mixed-use property in Wurtsboro, NY, presents a lucrative investment opportunity. Located at 90 Sullivan Street, this 7,076 square foot building sits on a 0.53-acre lot and offers a compelling blend of commercial and residential income streams. The property includes a fully renovated restaurant, complete with updated equipment, bathrooms, a commercial kitchen, bar, tables, flooring, an outdoor dining area, signage, and cable wiring. Seven newly renovated one-bedroom apartments provide additional rental income. Each apartment features metered electric utilities, new bathrooms, new kitchens, and new appliances. The current occupancy rate allows for a 7.2% capitalization rate on all existing rented units. This figure excludes potential income from a separate storage rental business, which, when fully rented, generates an additional $25,200 annually. This turnkey operation offers a diversified income portfolio with significant potential for growth and strong returns. The property's prime location and high-quality renovations make it an attractive investment for discerning buyers seeking a stable and profitable venture. The combination of a thriving restaurant and consistently rented apartments provides a resilient and diversified income stream. This is a rare opportunity to acquire a fully operational, high-performing mixed-use property in a desirable location.