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Refer to Property No.: 72359
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• High Visibility/Traffic Count Location
• 2.8 Acres • 2 Commercial Parcels being Sold together; One Developed, One ready for Development • 3,000 Square Foot Building with Long-term Lease for Income • Develop your Business Dream on the Empty Lot • Plenty of Parking • 2 Pole Barns • US Route 9 "Retail Area" • No Zoning Restrictions!          |
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Thinking about Investing your assets into Real Estate? It is the one thing that always and consistently grows in value over time! This property offers a very special opportunity to do just that in a location that is prime for commercial endeavors in Columbia County.
Located on US Route 9 in the town of Greenport, where there are no formal zoning restrictions, the climate allows for a business community to thrive and this property is a unique opportunity for your commercial investment to profit as well! The total property contains 2.862 Acres on two separate tax parcels, with the main parcel offering a 13,916 square foot concrete block building that currently contains retail space for a lumberyard/building supplies store. Originally built as a roller skating rink, the space is wide-open inside and boasts a hardwood floor, 14' ceiling heights, with skeletal steel type trusses. In essence, it is a space that can be as versatile as the imagination you use to fill an open box. At present, the square footage is used primarily as an open showroom area, with 3 small offices, and half bath for employee use only. A large shed type addition off of the rear of the structure offers an additional 2,058 +/- storage and display area, and it is here that you will find a 12' overhead door for loading and unloading. A side doorway from the main building guides you here, as well as to the large, fenced and paved yard that could easily hold additional parking, but is currently being used as a great access/display area for the current tenant. Two large, 3-sided Pole Barns are found in the yard measuring 18' x 30' and 18' x 74', and offer a total of almost 1,900 additional outdoor square footage of storage and a multitude of uses. The mechanical details of the structure include a 3- phase 400 Amp electric service, 240 volt with two 200 Amp subpanels, 5 suspended gas blower heaters, thermo pane glass entrance and exit doors, and 7' - 8' concrete block with metal sandwich panels.
A triple net lease with the current tenant will provide the new investor an income stream of $45,492 a year through the current lease expiration term of 3/31/2010, the same amount through the next five year term, and then $52,500 during the third extended 5 year term. A six month notification by current tenant will let you know if you can plan to occupy this structure yourself on 4/1/2010, or if they will renew for the next 5 year term. This current tenant could bring rental income to the owner through the year 2020 if they exercise all of the lease renewal options.
The location is ideal for any type of business, especially one that thrives on visibility to the public, because it is located among Columbia County's best retail spaces including several strip malls, and very near to our nearest development/expansion area to house a Lowe's, Super Wall-Mart, and Applebee's Restaurant! Also included is a BONUS second parcel totaling approximately ¾ Acre of the total lands being offered, which is ripe for development into your immediate commercial development dream; or it could be sold on its own, as it is on a separate tax bill than the improved lot. Again, high traffic counts, great visibility, and no zoning all combine to make it an ideal location for almost any business idea you're contemplating. The current lease with the tenant in the first parcel allows for access across their lands in order to develop your parcel, and although it states that the new business can not directly compete in nature to their type of business, your options are almost endless! This property offers the long-term investor the opportunity to gain an income stream coupled with the ability to develop and create his or her own business in a highly visible and economically thriving area of Columbia County, in the midst of other new business ventures and opportunities that will make this site even more valuable in the years to come! Refer to Property No.: 72359 |
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