Downtown Middletown Mixed-Use Redevelopment Opportunity

Highlights:

• Sale-leaseback: single tenant on a NNN lease through May 31, 2030
• 1.67-acre, two-parcel downtown assemblage with 371 ft on Railroad Avenue
• DMU zoning: ground-floor commercial with residential above, up to 90 ft subject to approvals
• Steps from the Short Line bus terminal with daily NYC commuter service
• Located in an Opportunity Zone
• Large paved parking area with municipal water, sewer and gas

Description:

A rare downtown assemblage with long-term redevelopment potential. The offering combines two contiguous tax lots at 9-11 and 13-25 Railroad Avenue (26-1-11.1 and 26-1-13), totaling 1.67 acres, with 371 feet of frontage on Railroad Avenue and 140 feet on Grove Street. The site is generally level, served by municipal water, sewer and gas, and located outside the flood zone (Zone X).

The existing 29,024 SF commercial building is occupied by a single tenant under a NNN lease that runs through May 31, 2030. That lease provides in-place occupancy while a buyer plans and pursues approvals. The site also has a large paved parking area.

The property is zoned DMU Downtown Mixed Use, which generally calls for ground-floor commercial space with residential above. It offers potential for up to six stories within a 90-foot height limit, subject to municipal approvals. The site sits steps from the Short Line bus terminal at 14 Railroad Avenue, which offers daily commuter service to New York City, and is located in an Opportunity Zone.

The property suits an owner-user, adaptive reuse, or phased mixed-use redevelopment. Lease terms and due diligence materials are available to qualified buyers after a confidentiality agreement is signed. Asking price: $3,300,000.

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