56 N Plank Rd Newburgh, NY 12550

Invaluable retail location in the Town of Newburgh one-half mile from I-84 is being offered for sale for the first time in 35 years. Currently configured as three retail operations; and a nail salon and a hair salon on the upper floor. A shipping store is on the lower level. The traffic count does n...ot accurately reflect the high visibility and utility of this location partly because retail locations are few in the Town of Newburgh.This location does not have sewer and so will not accept a sit down restaurant as per town code. Take out food is a possibility. The building is in good condition and the taxes are fair. The tenants have been long term and stable. Having said that all the tenants are on short-term leases and an owner occupancy could be arranged. But look at the income and expense sheet, the present net provides for a 7.5% cap rate, that is not to shabby. Continue reading