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$ 1,999,999
Est. payment /mo
Active
19-23 Greenway LN Fallsburg, NY 12759
UPDATED:
Key Details
Property Type Commercial
Sub Type Other
Listing Status Active
Purchase Type For Sale
MLS Listing ID 932973
Rental Info No
Property Sub-Type Other
Source onekey2
Property Description
This 3 unit building is a rare gem of an asset, well built and tremendous cash flow capabilities. These 3 townhouse style units are superbly well built on ground leased land within the boundaries of SUNY Sullivan. Initially built as supplemental housing, it is now the ONLY on campus housing option. All other housing options on campus have been decommissioned. In addition to all of the physical benefits of this LEED certified building the biggest advantage is that it is operated by the College. Owner is only responsible for Capital Projects, of which there are not many. Lease up, management and collections are all handled by the college. Owner collects revenue from the College and pays Utility Bills and Insurance.
Purchase is of the building only, the building is on a Ground Lease. Lease has 15 years remaining plus a 10 year option, with a cash buyout. Additionally lease creates exclusive option to develop additional housing within the campus.
This is truly a "mailbox money" opportunity.
Purchase is of the building only, the building is on a Ground Lease. Lease has 15 years remaining plus a 10 year option, with a cash buyout. Additionally lease creates exclusive option to develop additional housing within the campus.
This is truly a "mailbox money" opportunity.
Location
State NY
County Sullivan County
Rooms
Basement Finished
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Fireplace No
Appliance Gas Cooktop, Microwave, Oven, Tankless Water Heater
Exterior
Utilities Available Cable Connected, Electricity Connected, Propane, Sewer Connected, Trash Collection Public, Water Connected
Building
Story 3
Foundation Other
Sewer Public Sewer
Water Public
Structure Type Other
Others
Special Listing Condition Third Party Approval
Listed by Keller Williams Realty • Peter Berman
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