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1959 Old Route 17 5,189 SF 83% Leased Retail Building Roscoe, NY 12776 $1,388,940 CAD ($267.67 CAD/SF) 9% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent Location, Easy to Stabilize Cash Flow, Establish Tenancy, Low Maintenance
EXECUTIVE SUMMARY
1959 Old Route 17 in Roscoe, New York is effectively a stabilized property. The retail units are fully occupied with longer term leases. The only immediate vacancy is the apartment which is currently occupied by the owner. The demand for apartments in the region is extremely high thus will be easy to lease ($1,800/Month estimated rent). The 2025 potential Cap Rate is 9.01% but it will jump to 9.65% January 2026.
The property underwent an extensive renovation in 2017-8 that included everything from building systems to structural repairs. All units within the building have received an extensive upgrade, either preformed by the owner or tenants. The ongoing repairs and maintenance are lower for this reason and there is almost no management responsibilities (no management fee included in Cap Rate). Aside from the eight parking spaces on the property, it is close to municipal parking as well as a large lot across the street.
This property is in excellent condition with long term leases being offered at an attractive Cap Rate. It’s positioned in a superior location in a town with a positive growth trajectory. The property is anchored by the Beaverkill Angler, which has been in business since 1979. The Junction restaurant is a hot spot for the region and has brought a lot of new traffic to Roscoe. The final retail tenant Jim Serio Real Estate has been a strong player in the region for over twenty years. The apartment offers 2 bedrooms, 1 bathroom, a storage/laundry room, and a roof deck. It is possibly the nicest rental apartment in town. For a small market commercial building the tenancy is as good as it gets. A new owner could also use the apartment as a residence or a second home.
The owner and listing agent is a licensed New York State Real Estate Salesperson with Keller Williams Up State New York Properties.
The property underwent an extensive renovation in 2017-8 that included everything from building systems to structural repairs. All units within the building have received an extensive upgrade, either preformed by the owner or tenants. The ongoing repairs and maintenance are lower for this reason and there is almost no management responsibilities (no management fee included in Cap Rate). Aside from the eight parking spaces on the property, it is close to municipal parking as well as a large lot across the street.
This property is in excellent condition with long term leases being offered at an attractive Cap Rate. It’s positioned in a superior location in a town with a positive growth trajectory. The property is anchored by the Beaverkill Angler, which has been in business since 1979. The Junction restaurant is a hot spot for the region and has brought a lot of new traffic to Roscoe. The final retail tenant Jim Serio Real Estate has been a strong player in the region for over twenty years. The apartment offers 2 bedrooms, 1 bathroom, a storage/laundry room, and a roof deck. It is possibly the nicest rental apartment in town. For a small market commercial building the tenancy is as good as it gets. A new owner could also use the apartment as a residence or a second home.
The owner and listing agent is a licensed New York State Real Estate Salesperson with Keller Williams Up State New York Properties.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Building Size
5,189 SF
Building Class
C
Year Built
1968
Price
$1,388,940 CAD
Price Per SF
$267.67 CAD
Cap Rate
9%
NOI
$124,995 CAD
Percent Leased
83%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.57
Lot Size
0.21 AC
Zoning
GB - General Business (GB)
General development of business and industry requiring significant land areas.
Parking
8 Spaces (1.54 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Corner Lot
- Tenant Controlled HVAC
MAJOR TENANTS Click Here to Access
- TENANT
- INDUSTRY
- SF OCCUPIED
- RENT/SF
- LEASE TYPE
- LEASE END
- Apt.
- Real Estate
-
99,999 SF
- -
-
Lorem Ipsum
- -
- Beaverkill Angler
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
- -
- Jim Serio Real Estate
- Real Estate
-
99,999 SF
- -
-
Lorem Ipsum
- -
- The Junction
- Retailer
-
99,999 SF
- -
-
Lorem Ipsum
- -
| TENANT | INDUSTRY | SF OCCUPIED | RENT/SF | LEASE TYPE | LEASE END | |
| Apt. | Real Estate | 99,999 SF | - | Lorem Ipsum | - | |
| Beaverkill Angler | Retailer | 99,999 SF | - | Lorem Ipsum | - | |
| Jim Serio Real Estate | Real Estate | 99,999 SF | - | Lorem Ipsum | - | |
| The Junction | Retailer | 99,999 SF | - | Lorem Ipsum | - |
PROPERTY TAXES
| Parcel Number | 4400-036-0-0001-001-000 | Improvements Assessment | $229,336 CAD |
| Land Assessment | $12,188 CAD | Total Assessment | $241,524 CAD |
PROPERTY TAXES
Parcel Number
4400-036-0-0001-001-000
Land Assessment
$12,188 CAD
Improvements Assessment
$229,336 CAD
Total Assessment
$241,524 CAD
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1959 Old Route 17
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