Property Details

Overview

New to the market: offer for sale are two buildings situated on two manicured acres of land located at 1508-1510 Route 9W in Marlboro, NY. The buildings feature 15, 100 total gross square feet, which along with the property grounds have been meticulously maintained and recently upgraded. Over the past five years ownership has invested over $200, 000 in capital improvements to building mechanicals, septic system, parking lot resurfacing, and external and internal renovations. The buildings are leased to a mix of office and residential tenants. The front #1508 Rte. 9W building has two second floor 1-bedroom/1-bath residential apartments that represent immediate and substantial upside rent potential. The ground floor has a thriving physical therapy practice and an Edward Jones franchise with a loyal customer base. The rear #1510 Rte. 9W building has a medical office suite with chiropractor, acupuncturist, and herbalist practitioners. A 1, 500 sf (approx.) ground floor unit is ready for build-to-suit a range of potential tenants while a turn-key move-in condition second floor 4, 200 SF (approx.) office suite is ready for immediate occupancy. The asset is ideally suited for the end-user/owner-operator who would install a business in any or all of the available units while enjoying income from in-place tenants, which exceeds $100, 000 gross in-place rental income. Meantime, an investor will see a path towards achieving gross rents more than $285, 000 and an NOI of $208, 261 once the asset is fully leased and stabilized. There’s no other property within 10 miles of this Hudson Valley Marlboro, NY gem that comes close to the quality and generational wealth- producing potential.