Commercial in Orange County
| MLS Number | 1067444 |
|---|---|
| Address | 2-4 Albert Street, Middletown, NY 10940 show map |
| Price | $499,000 show mortgage calculator |
| Acres | 0.27509182736455 |
| Year Built | 1900 |
| Est. Sq. Footage | 0 |
| Zoning | C-1A |
| Current Uses | |
| Permitted Uses |
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.
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