2-4 Albert Street, Middletown, NY 10940
- $499,000
- List Price
- $499,000
- Days on Market
- 3
- MLS#
- 1067444
- Status
- COMING SOON
- Property Type
- Office
- Year Built
- 1900
- Property Tax
- $12,009
- Neighborhood
- Middletown
- School District
- Middletown
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.
Additional Information
- Acres
- 0.28
- Parking
- Parking Lot
- Basement
- Crawl Space, Full, Storage Space, Unfinished
- Heating
- Forced Air
- Cooling
- Central Air, Ductwork, Wall/Window Unit(s), Zoned
- Water
- Public
- Sewer
- Public Sewer
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Listing courtesy of Listing Agent: Peter Berman (peteberman@kwcommercial.com) from Listing Office: Keller Williams Realty.
Listings courtesy of OneKey® MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.