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391 Piermont AVE Piermont, NY 10968
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Key Details
Sold Price $844,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
MLS Listing ID KEYH6211059
Sold Date 07/20/23
Originating Board onekey2
Rental Info No
Year Built 1912
Annual Tax Amount $17,289
Lot Size 10,018 Sqft
Acres 0.23
Property Description
Own an iconic building in Piermont, which is the jewel of Rockland County (The Post Office). There are two, two-bedroom apartments on the second level and the anchor tenant, the Post Office, is on the first level. There is a large deck in the back that overlooks the yard and the creek. Post Office rents for $42,650 per annum, the back apartment rents for approximately $20,000 per annum (and is due for a sizeable increase), while the totally redone front apartment can rent for approximately $33,000 per annum (currently that is unoccupied) over $100,000 in potential gross rental income from all three rental units. Cap rate is approximately 8.5% at this price. PLEASE DO NOT GO ON THE PREMISES TO SPEAK TO THE POST OFFICE EMPLOYEE AS HE HAS ZERO INFORMATION. Additional Information: ParkingFeatures:1 Car Attached,
Location
State NY
County Rockland County
Interior
Heating Baseboard, Natural Gas
Cooling None
Fireplace No
Appliance Gas Water Heater
Exterior
Parking Features Attached, Garage, Private
Fence Fenced
Total Parking Spaces 1
Building
Lot Description Corner Lot, Level
Sewer Public Sewer
Water Public
Schools
School District South Orangetown
Others
Special Listing Condition None
Read Less
Bought with Howard Hanna Rand Realty
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