Listed by KW Commercial - First in New York
$999,000
34-40 Front Street
Details
APN 331300-013-000-0005-028.000-0000
Property Type Retail
Sub Type Storefront
Square Footage 14,592
Units 2
Cap Rate 3.00%
NOI $33,505
Occupancy 100%
Tenancy Multi
Lease Type NN
Lease Term 3
Lease Expiration 01/01/2028
Remaining Term 3
Rent Bumps Yes
Class B
Year Built 1967
Buildings 1
Stories 2
Acreage 0.193
Zoning CBD
Investment Type Net Lease
Sale Condition For sale by owner
Chance to own a solid building in a rapidly transforming upscale area
Marketing description
Solid building on Front Street in Port Jervis with 2 long standing tenants. Tenants pay all
utilities and light maintenance. There are two 3 year leases in place. Although the rents do not
justify the asking price the location and eventual appreciation make this a potential trophy
property. Seller would consider some owner financing.
Investment highlights
Well built building on Front Street in Port Jervis, which is a rapidly developing more upscale area with restaurants, cafes and a high end luxury hotel with a roof top restaurant under construction.
Two long standing NN tenants with 3 year leases which they wish to renew.
This could be a trophy property in a short period of time.
Seller will entertain offers and owner financing.
Listing Contacts
Listed by KW Commercial - First in New York
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$33,505.00
$2,792.08/mo
Valuation Metrics
0
DSCR
3.35%
Cap Rate
3.35%
ROI
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Property History
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