38-58 & 78 88 Rt-303, Tappan, NY 10983

$3,800,000
List Price
$3,800,000
Days on Market
183
MLS#
H6298892
Status
ACTIVE
Property Type
Retail
Year Built
1965
Property Tax
$106,027
Subdivision
Stateline Plaza I & Ii
Neighborhood
Orangetown
School District
South Orangetown

Property Description

Located on the NY/NJ border in a Business District spanning Tappan, NY and Northvale, NJ with National and Regional Retailers and Service Providers, including a new 25k+ SF project for a LIDL Supermarket across the street. This offering includes the sale of two In-Line Retail Strip Centers - Stateline Plaza I (121-125 Oak Tree Rd. & 78 88 Route 303, Tappan) - an 8,410 SF structure, and Stateline Plaza II (38-58 Route 303, Tappan) - a 9,470 SF structure, as well as a Single Family home (115 Oak Tree Rd, Tappan). Currently, at about 26% vacancy rate, the asking price represents a 5.60% CAP Rate, and at a Pro Forma CAP Rate of 8%+, this offering presents a great Upside potential. For Stateline I, the NYS Department of Environmental Conservation has assigned a Site Code of 344089 to the property. For Stateline II, the NYS Department of Environmental Conservation has assigned a Site Code of 344090 to the property.

Additional Information

Heating
Natural Gas, See Remarks
Cooling
Central Air
Water
Public
Sewer
Public Sewer

Mortgage Calculator

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Calculator source: Real Geeks

Listing courtesy of Listing Agent: Yshay Manos (nyhudsonrealty@gmail.com) from Listing Office: Nova North Commercial.

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