OLIVE NY - ID: 20182932
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  • Price: $995,000
  • Sq. Feet: 42,000
  • Acreage: 1.98
  • Year Built: 1970
  • School District: ONTEORA CENTRAL
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Mixed Use

Description: Strip plaza located on busy State Route 28 (daily traffic count of 6727–7205 vehicles per day) along the gateway to the Catskills. Expansive 42, 000+ plus square foot plaza offers large commercial space and 4 additional attached stores/service shops. Building is located adjacent to areas largest grocery/shopping center & is across the street form the local High School. High traffic location boasts year round business form surrounding homeowners, skiers, tourists, hunters and local development. Property has municipal sewer and is in very good condition. Large commercial space is available for lease. Prior use was lumber yard and salvage retail store. Unit offers over 35, 000 square feet of office, retail and warehouse space with high visibility form State Route 28. Updated systems include roof, heating and cooling units (last 10 years). Solid tenant base include Post Office, Chinese’s Restaurant, Hair Salon and Cafe/catering. Commercial space available for $8, 500 month. See Associated docs for income and expense sheet. Sale of building would carry a non-compete restriction for grocery business next door for 10 years.. At asking price with the vacant large commercial space the Cap rate is about 6%, if the warehouse was rented for $8, 500 a month the building would be a +/- $159, 431 Net Operating income revealing a +/- 16% Cap Rate!
Large commercial space is recently available for lease. Prior use was lumber yard and salvage retail store. Unit offers over 35, 000 square feet of office, retail and warehouse space with high visibility form State Route. Updated systems include roof, heating and cooling units. Solid tenant base include Post Office, Chinese’s Restaurant, Hair Salon and Cafe/catering. Commercial space available for $8, 500 month. See Associated docs for income and expense sheet. Sale of building would carry a non-compete restriction for grocery business next door for 10 years..


FEATURES:
NUMBER OF UNITS: 5
SURVEY: Yes
ELEMENTARY SCHOOL: Phoenicia K-3
WATER: Well
ZONE: 02retail Outlet
LOT DIMENSIONS: Irregular
CONDITION: Very Good
ELECTRICITY: Three Phase, 200 Amps
LOT FEATURES: Additional Land Available, Level, Parking Lot
LOT/SITE: Hamlet/Village, Shopping Mall
ROAD FRONTAGE: State Road, Paved

Listing courtesy of: Win Morrison Realty / Listing Agent: Gregory Berardi
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