391 Piermont Avenue, Piermont, New York 10968 (MLS# H6211059)

Commercial Sale listing in Rockland County


Listing IDH6211059
Sold For$844,000
StatusClosed
Sold Date7/20/2023
CountyRockland
Year Built1912
Property TypeCommercial Sale
Property Sub TypeMixed Use
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.

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