146-160 Robinson Avenue, Newburgh N.Y. 12550 United States
Amazing Property at 146-160 South Robinson Avenue
Up for grabs in this extraordinary opportunity are two buildings both of which cover 12,044 square feet on a 1.15 acres plot with 173 feet of frontage on route 9W and 277 feet along Dickson Street.
The currently vacant structure on 146 route 9W spans 7,564 square feet and has 10 drive-in doors which facilitated the limestone retail business it served in recent past.
The structure on 160 route 9W covers 4,480 square feet is a drive-through car wash and has been leased out till 2033. PRESENT INCOME IS $74,724.OO WITH EXPECTED YEARLY INCREMENTS.
Both properties have municipal water & sewer & gas. Both have direct access to route 9W, aka Robinson Avenue, & Dickson Street with a traffic light at the intersection of route 9W & Dickson.
PROJECT INCOME & EXPENSES
TOTAL INCOME: $94,480.00
Car Wash 2018-2019 $52,878.00
Taxes Reimbursement: $25,394.00
ADJUSTED INCOME: $116,095.00
Real Estate Taxes: $35,278.00
Professional Fees: $750.00
Total Expenses: $ 044,328.00
NET INCOME: $71,767.00
Car Wash Lease:
This lasts for 25 years till July 2033. Base rent escalating to $73,650.00.
The tenant is to pay tax increase over base year 2008-2009 and that amounts to $10,355.00
The tenant is also responsible for all utilities, snow removal, garbage removal, building maintenance and repairs.
A very promising investor property! Contact Listing Broker for additional information.
- Live / Work
- Land is 12,044 sqft