See all 39 photos
39 photos
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$499,000
Est. payment /mo
0.28 Acres Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1067444
Rental Info No
Year Built 1900
Annual Tax Amount $12,009
Lot Size 0.275 Acres
Acres 0.275
Property Sub-Type Office
Source onekey2
Property Description
Single-tenant dental office investment at the corner of Albert Street and Wickham Avenue in Middletown. Great investment opportunity, own the RE and let the tenant pay down your investment. This freestanding, approximately 2,884 SF building occupies a 0.275-acre lot with dedicated on-site parking. Mondovi Dental, has occupied the property since 2016. The gross lease runs through August 31, 2029, with approximately 2% annual rent increases and two additional three-year renewal options. At $499,000, the offering reflects a projected 8.11% cap rate based on $40,474 pro-forma NOI, including estimated expenses. Real estate only: the dental practice, equipment and goodwill are excluded as they belong to the teant, and the tenant remains in place. Building area is per public records; buyers should verify measurements, lease terms and financials.
Location
State NY
County Orange County
Rooms
Basement Crawl Space, Full, Storage Space, Unfinished
Interior
Heating Forced Air
Cooling Central Air, Ductwork, Wall/Window Unit(s), Zoned
Fireplace No
Exterior
Parking Features Parking Lot
Utilities Available Cable Connected, Electricity Connected, Natural Gas Connected, Sewer Connected, Trash Collection Private, Water Connected
Building
Sewer Public Sewer
Water Public
Structure Type Frame
Schools
High Schools Middletown
School District Middletown
Others
Special Listing Condition None
Read Less Info
Listed by Keller Williams Realty • Peter Berman
NEARBY SCHOOL & BUSINESS
GET MORE INFORMATION