2303 Lucas Turnpike

Description

Real estate investors and entrepreneurs, here is an opportunity to own a perfectly renovated Class A Mixed-Use building on a destination corner of one of the Hudson Valleys most popular small towns. The necessary capital investments to this property have already been made and all four spaces are currently rented to stable tenants. Set on a half-acre on Lucas Turnpike in High Falls, across from the regionally popular High Falls Food Co-op, this 4,664 sqft multi-use building has parking to accommodate customers for the two retail spaces as well as the tenants for the three bedroom and one-bedroom apartments on the second floor. The building is 100% occupied! The cap rate is over 7%. One of the retail spaces is currently a hair salon and the other is a wholesale business. The property has 76 feet of creek frontage on the beautiful Rondout Creek which might be incorporated into the business of a retail tenant. The four corners where the property sits connects visitors and residents of High Falls, Stone Ridge, Rosendale and Marbletown and is trafficked by more than 10,000 cars a day. The list of improvements made in the recent renovation is exhaustive and available from the listing agent, highlights include: new shiplap wood siding, custom Marvin Elevate (Integrity) windows, a standing seam metal roof, new electrical and plumbing. Individual meters and utilities for each unit are in place. This is a turn key money maker with not maintenance for years to come. Please contact me for the list of improvements.