146 160 Route 9W, Newburgh NY 12550 United States
Great Investment property at 146 160 RTE 9W Newburgh
AGENT: ROBERT A VITANZA
Contact Number: 845 926 6161
Two buildings totaling 12,044 sq. ft. on approx. 1.15 acres with 173 feet of frontage on Route 9w and 277 feet along Dickson Street.
146 Route 9w is a great investor commercial real estate parcel with 7,564 sq. ft. retail/warehouse facility with 10 drive-in doors which is currently vacant. 160 route 9w is a 4,480 sq. ft. drive through car wash presently lease through 2033. PRESENT INCOME IS $62,748.00 WITH YEARLY INCREASES.
Both properties have municipal water & sewer & gas.
Both have direct access from Route 9w & Dickson Street with a light at the intersection. Minutes from IP84, NYS Thruway, and New York Stewart International Airport.
So well situated in Newburgh and it’s well known, Newburgh is a transportation hub
Project Income & Expenses 146 – 160 Robinson Ave. Newburgh, NY
TOTAL INCOME: $94,480.00
Car Wash 2018-2019: $52,878.00
Retail/Whse (Vacant): $41,602.00
Taxes Reimbursement: 25,394.00
EXPENSES: Real Estate Taxes: $35,278.00
Professional Fees: 750.00
Total Expenses: -44,328.00
NET INCOME: $71,767.00
Car Wash Lease: 25 years through July(2033. Base rent escalating to $73,650.00. Tenant pays tax increase over the base year 2008-2009. Base year tax amount $10,355.00 Tenant responsible for all utilities, snow removal, garbage removal, building maintenance, and repairs.
- Land is 12,044 sqft
- Floor Area is 115 acres