PRICE: $389,900 PROPERTY TYPE: Commercial / Residential
UNITS: 5 (2 commercial units currently occupied as one store, and three apartments are upstairs)
BEDS & BATHS: two 1-Bedroom Apartments and one 4-Bedroom Apartment
SCHOOL: Newburgh (Magnet) AREA: Newburgh City
This building presents a great opportunity to own the building that houses your business, or to explore the live-work lifestyle. There are 2 Commercial spaces on the first floor, and currently, a store occupies both of them on a two-year lease. Upstairs, there are three rented apartments on month-to-month leases.
Our Favorite Parts About This Building:
The storefront retail space can be 2 or 1. Your choice! A large, roomy store, or two cozy stores.
Close to the hopping area of Liberty with new cafes and shops. This block is part of a spread of an small businesses who are starting in different areas of Newburgh, and spreading out.
“Opportunity Zone” friendly. This building is in the Opportunity Zone, which is a new tax incentive for people who have capital gains. Read more about the Opportunity Zone here.
Where is this building? Nearby other growing businesses and buildings that are being renovated. A film production facility is being created across the street, which you can see here, by Thomas Burr Dodd who has several projects in the area area (hint: if you are in the film business, you will want to read that article) and writes extensively about development in Newburgh.
Newburgh Still In Come-Back Stages - Know Your Agent
Newburgh is very diverse with people, buildings, empty buildings, renovated buildings, abandoned buildings, beautiful homes, beautifully decaying homes, and beautifully renovated homes.
It’s quite a canvas over there. And this building probably needs work. The agent for this listing, Sarah Beckham Hooff, is up to her elbows in Newburgh, having renovated a building herself, which is what got her hooked on real estate and being involved in the community. She is a wealth of information for what is going on now, and can point you in the right direction for getting to know Newburgh better. Plus, this building at 321 Liberty Street is in a newly established tax break for capital gains called an Opportunity Zone (learn more about that here)
This is your chance to participate in the revitalization of a once thriving area of the country centuries ago when it was Washington’s headquarters during the Revolutionary War, as well as a shipping resource, before urban changes routed traffic out of there, leaving it to spiral downward. But it’s on a climb back up. Refresh or start your Newburgh history here.
Contact the agent, Sarah Beckham Hooff about this listing at her cell: 845.420.8965 or email: email@example.com