2217 + 2219 State Route 208, Montgomery, NY, 12549 | $860,000

Welcome to this commercial/residential zoning property in Montgomery. Situated on . 85-acre lot, the retail commercial space, currently functioning as a glass shop, adds a lucrative dimension to the property. W/ a current rent of $2400 per month, this space presents an excellent investment opportunity. The prime corner location ensures maximum daily traffic visibility, making it an ideal spot for a thriving business. Nestled within the same lot is a residential detached Craftsman property featuring 2 units, each fetching $1, 200 in monthly rent. These units come complete with stoves & refrigerators. There is a fenced yard & above-ground pool. There is an opportunity to acquire additional acreage bordering the property with road frontage, creating potential for future expansion or development opportunities. Currently on septic & well, there are plans to introduce sewer & water services to the corner. Noteworthy is the proximity to key locations: near Newburgh/Middletown Shopping, & Close to Route 84. For those relying on public transportation, the Metro North Beacon Train is a conveniently close. Commuting to the heart of New York City is also a breeze by car. A pending check gas station approval right across the street hints at upcoming developments, including the potential addition of sewer & water services, as shared by the owner. The property's versatility, strategic location, & potential for growth make it a rare and enticing opportunity for investors & Contractors alike. Don't miss this great opportunity. The glass shop and the 2 family rental are only sold together and not separately.

Features

  • Property Type: Retail
  • Current Use: Commercial, Retail
  • Construction: Frame
  • Heating: Electric, Natural Gas, Baseboard
  • Cooling: Window Unit(s)
  • Units: 3
  • Zoning: B4
  • Year Built: 1890
  • Est. Taxes: $10,879
  • School District: Valley Central
  • Appliances: Oven, Refrigerator
  • MLS#: H6314484
  • Days on Market: 6 days
  • Website: https://www.raveis.com
    /prop/H6314484/2217_2219stateroute208_montgomery_ny?source=qrflyer
Listing information has been assembled from various sources of varying degrees of reliability. Any information critical to the buying decision should be independently verified.Listing courtesy of RE/MAX Town & Country   Phone: 845-765-6128

William Raveis Family of Services

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888.699.8876

Contact@raveis.com

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Sarah AlvarezVP, Mortgage Banker, William Raveis Mortgage, LLC

NMLS Mortgage Loan Originator ID 1880936

347.223.0992

Sarah.Alvarez@Raveis.com

Our Executive Mortgage Banker:

  • Is available to meet with you in our office, your home or office, evenings or weekends
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  • Provides a guaranteed closing date that meets your needs
  • Has access to hundreds of loan programs, all at competitive rates
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860.690.5052

Robert.Reade@raveis.com

Our Insurance Division:

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2217 + 2219 State Route 208, Montgomery, NY, 12549

$860,000

Customer Service

William Raveis Real Estate

Phone: 888.699.8876

Contact@raveis.com

Sarah Alvarez

VP, Mortgage Banker

William Raveis Mortgage, LLC

Phone: 347.223.0992

Sarah.Alvarez@Raveis.com

NMLS Mortgage Loan Originator ID 1880936

5/6 (30 Yr)
Adjustable Rate Jumbo*
30 Year
Fixed-Rate Jumbo
15 Year
Fixed-Rate Jumbo
Loan Amount $688,000 $688,000 $688,000
Term 360 months 360 months 180 months
Initial Interest Rate** 5.875% 6.500% 6.250%
Interest Rate based on Index + Margin 8.125%
Annual Percentage Rate 7.335% 6.612% 6.433%
Monthly Tax Payment $907 $907 $907
H/O Insurance Payment $92 $92 $92
Initial Principal & Interest Pmt $4,070 $4,349 $5,899
Total Monthly Payment $5,069 $5,348 $6,898

* 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.