Property Listing Description

For Sale
Newburgh146 160 Route 9W
$
  • Side view of car wash at this great Investment property at 146 160 RTE 9W Newburgh
  • Aerial image of great Investment property at 146 160 RTE 9W Newburgh
  • Interior of retail/warehouse space in this great Investment property at 146 160 RTE 9W Newburgh
  • Exterior picture of busy car wash a great Investment property at 146 160 RTE 9W Newburgh
  • Great Investment property at 146 160 RTE 9W Newburgh here is the exterior picture of warehouse retail front
Great Investment property at 146 160 RTE 9W Newburgh 146 160 Route 9W Newburgh, NY 12550 United States

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

Vacancy:  3,779.00

Taxes Reimbursement:  25,394.00

ADJUSTED(INCOME: $116,095.00

EXPENSES: Real Estate Taxes: $35,278.00

Maintenance:  2,000.00

Professional Fees:  750.00

Insurance: 5,800.00

Supplies:500.00

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.

 

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Property Features
  • Drive in Doors
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