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INVESTMENT OPPORTUNITY |FULLY RENOVATED PROFESSIONAL BUILDING PROJECTED INCOME OVER $84, 000 ANNUALLY Turnkey commercial investment opportunity in the City of Newburgh. This completely builder-renovated professional building offers over 3, 000 square feet of modern office space with six individual units and projected gross rental income exceeding $7, 000 per month when fully leased. Unlike many commercial properties that require ongoing capital improvements, this building has been extensively renovated with virtually everything replaced or upgraded, including windows, doors, flooring, bathrooms, electrical systems, generac generator, heating and cooling systems, common areas, and a fully renovated elevator. The result is a low-maintenance asset designed to provide years of reliable operation with minimal deferred maintenance concerns. Each suite is individually metered with separate electric service and independent heating and cooling systems, helping reduce owner expenses while providing tenants with complete control of their utility usage. The property is fully handicapped accessible and features private parking, an oversized lobby area, professional finishes, and elevator access to all levels. Strategically located among established medical offices, healthcare providers, and professional businesses, the property is ideally suited for medical, wellness, counseling, legal, accounting, insurance, executive office, or professional service tenants. The flexible floor plan also provides opportunities for an owner-user to occupy a portion of the building while generating income from the remaining suites. Property Highlights: • Over 3, 000 SF of renovated professional office space • Six individual office suites • Projected gross income exceeding $84, 000 annually • Separate electric meters for each unit • Independent heating and cooling systems • Fully renovated elevator • Handicapped accessible • Private off-street parking • Oversized professional lobby and common areas • Surrounded by medical and professional office buildings • Minimal deferred maintenance • Excellent owner-user or investment opportunity Rarely does a commercial property become available that combines modern construction standards, strong income potential, utility separation, accessibility features, and a professional location in one package. This is a true turnkey asset ready for immediate occupancy and income generation.
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Our Executive Mortgage Banker:
$719,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
Frank.Kolb@raveis.com
NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $575,200 | $575,200 | $575,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.230% | 6.512% | 5.866% |
| Monthly Tax Payment | $931 | $931 | $931 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $3,403 | $3,589 | $4,738 |
| Total Monthly Payment | $4,426 | $4,612 | $5,761 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.