Applewood Apartments and Restaurant

120 North Road Highland, NY 12528

120 North Road, Highland, NY, 12528
120 North Road, Highland, NY, 12528
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$2,900,000
Last Verified:
Jul 05, 2020


Description

SUPER VERSATILE INCOME $$$ PRODUCER!- Apartments – Restaurant – Catering facility in a private manicured hill top setting in the heart of the Mid-Hudson Valley minutes to the Mid-Hudson Bridge, NYS Thruway, Poughkeepsie & New Paltz. This twenty- four unit apartment complex consists of 8 two room studio apartments, 11 one bedroom apartments, 5 two bedroom apartments, a 4452 sq. ft restaurant w/ bar, an outdoor Pavilion and a covered patio for outside dining all of which are in two spectacular and historic brick buildings on 2.5 acres of well-tended landscaped property. All furniture, fixtures, equipment & supplies are included in the sale of the Restaurant. In addition, there is a picturesque 16x16 koi pond which adds to a distinct country ambiance for al fresco events. Additionally improvements include two 12x20 one car garage sheds, two 10x14 storage sheds, basketball court and a 40x80 patio area for catering events. This unique offering has been carefully maintained all apartments have been routinely updated providing an excellent rental history. Continue existing income producing use or expand on the good will and fine reputation of this well respected and well known location. Many and varied possibilities exist- corporate retreat, boutique hotel, special events destination, culinary tourism utilizing the bounty of many local farms and fine food purveyors. Additional information and details on request from qualified buyers. OPPORTUNITY ABOUNDS!

Catering facility in a private manicured hill top setting in the heart of the Mid-Hudson Valley minutes to the Mid-Hudson Bridge, NYS Thruway, Poughkeepsie & New Paltz. From the Mid-Hudson Bridge, 9W North to Left on Merritt Ave; Right on Grand St.


Year Built: 1930
Building Size: 23052.0sq ft
Lot Size: 2.5 acres

Map of 120 North Road, Highland, NY, 12528

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.