155 Vineyard AveHighland, NY 12528

For Sale
$2,900,000

95,000 SF Warehouse, 9% Cap Rate, Redevelopment Potential

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional 95,000 square foot industrial property, located at 155 Vineyard Ave, Highland, NY 12528, presents a compelling redevelopment or operational opportunity. Situated on a 2.9-acre lot in Ulster County, this Class C property boasts two buildings, each two stories high, with a permitted LI zoning designation. Built in 1926 and renovated in 1968, the property features 4 loading docks and 4 dock-high doors, along with an impressive 18-foot ceiling height. Currently operating at 10% occupancy (as of March 31, 2023), this multi-tenant property offers significant upside potential. The asking price is $2,900,000, representing a price per square foot of $30.53 and a land value of $38 per square foot. The property is offered as a Net Lease and is owned by an LLC. Its prime location in a rapidly growing area makes it ideal for conversion to self-storage, residential, senior housing, or assisted living facilities. Alternatively, it can serve as a cost-effective warehouse and distribution center. This is a unique opportunity to acquire a substantial industrial property with significant redevelopment potential at an attractive price point and a 9% cap rate.

Highlights

  • $2,900,000 asking price for a 95,000 square foot industrial property.
  • 9% cap rate with 10% occupancy as of March 31, 2023.
  • Located at 155 Vineyard Ave, Highland, NY 12528, on a 2.9-acre lot.
  • Features two buildings, two stories, 18' ceilings, four loading docks, and four dock-high doors.
  • Class C property built in 1926, renovated in 1968, with LI zoning.

Property Details for 155 Vineyard Ave

Property type
Other warehouses, Retirement homes
Square Feet
95,000 SF
Class
C
Year Built/Renovated
1926/1968
Buildings
2
Stories
2
Lot Size (sq. ft)
126,324 SF

Location Insight

City
Highland
County
Ulster
State
New York
Latitude
41.7140256
Longitude
-73.9731773
155 Vineyard Ave, Highland, New York

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155 Vineyard Ave
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