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716 State Route 32, Highland Mills
JUST GRAB!!! 7 Units | Mixed Use | 10.01% Cap Rate | 19.75% Cash on Cash This Multi-use property is spread over 4 acres of land. It includes a large building operated by a liquor company along with 6 Rental Units above, 6 Garage Rentals, and a sizable Single Family Home. The Restaurant/liquor building is currently occupied by a good-going liquor company paying a total of $132,000 annually! The building houses 6 Rental Units above the commercial space. 5 Studio Apartments, and 1 Three Bedroom Apartment, all currently rented with an annual income of $64,200. Additionally, the 6 Garages are also rented bringing a total income of $29,820. The Spacious Single Family home is to the side of the Restaurant Building. It boasts 3 Large Bedrooms, Spacious Living Space, and a Full Finished Basement. It is currently rented for $26,400 a year. With the Total Gross Income at $252,420 and a total of $53,200 for the operative expenses, the property nets an astonishing $199,220! The Incoming buyer can further benefit from the expansive land on the property which can be developed to further increase its Value and Income. Request R-1A Zoning Regulations for more information. The property is located in the thriving Town of Woodbury. New York State has recently invested over $150M to improve the constant jams and boost the roads to accommodate the heavy traffic flow at the intersection between the NYS Thruway and Rt. 17. (See photos below) The town has also recently been approved for a grand casino project which will further increase its benefit and output. The Property is in the 3 Mile Radius of Woodbury Commons Outlet Center and in the 10 Mile Radius of Stewart International Airport. There numerous Popular Shopping Centers in the area including the Woodbury Center and Harriman Commons with Major International Enterprises. The Property is literally minutes away from the Route 17 and the New York State Thruway with a VPD of over 130K.
- MLS® #6012808
- Square Footage11,767
- Year Built1975
- Parking4+ Car Detached, Driveway, Garage Parking, Lot Parking, Private Parking
- Listing OfficeGolden Star Realty Group Inc
- Address716 State Route 32
- AreaWoodbury Town
- CityHighland Mills
- CountyOrange County
- Zip Code10930
- HeatingBase Board, Radiator
- CoolingCentral, Window Units
- # of Stories3
The data relating to real estate for sale or lease on this web site comes in part from HGMLS. Real estate listings held by brokerage firms other than Monroe Realty Center. Inc are marked with the HGMLS logo or an abbreviated logo and detailed information about them includes the name of the listing broker.
Information deemed reliable but not guaranteed.
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Listing information last updated on February 24th, 2020 at 11:29am EST.