Commercial investment in the heart of Saugerties, N.Y
This is it! One of the nicest brick landmark buildings in Historic Saugerties! Right on Market street in the heart of the action you will find this fully renovated, 2 retail space, 2 lovely 2 bedroom, 900 square foot updated duplex apartments with cathedral ceilings. The left commercial space is a cafe with a full commercial kitchen, Ansul System, etc., and the right side holds a beauty salon. Each side has a large display window facing the high auto and foot traffic street. There is a walk-through between the spaces, so the salon could become a sizable dining room. The rear of the building has enough room for additional tables and seating. The main roof was replaced down to the wood in the last 2 years and the balance of the roof was re-coated recently. There are 5 electric metersservicing the building (one for the common area), each of the apartments has its own natural gas heating system and meter. The apartments are baseboard and the businesses are forced hot air. There is 1 water meter and the landlord pays water/sewer Almost all of the windows have been updated and the building was re-insulated when it was renovated. Directly across the street is the Saugerties Village center where all the Village fun events are held; the Christmas Tree, Bandstand, car shows, and much, much, more. Any investor would be proud to own this fine property. The cap rate is 7% and could be higher with market rate leases.
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