New Windsor, NY; Schuckman Realty is pleased to announce the sale of a 52,000 square foot, grocery anchored shopping center at 436 Blooming Grove Turnpike New Windsor, NY 12553.
The 100% leased, Blooming Grove Shopping Center features tenants such as Nature’s Pantry, Dollar General and the USPS as well as smaller retailers. The site has abundant parking on the lot which totals 5.7 acres. The property was delivered with an agreement and plans to install six electric car charging stations and the additional space could be used to develop retail pad sites.
Matthew Colantonio and Steven Hakakian of the Schuckman Realty Investment Sales Team exclusively represented the Seller and utilized Ten-X’s auction platform to market the property to thousands of additional national bidders. The Seller was attracted to the Ten-X strategy of fronting and completing all due diligence prior to auction which leads to a hard, non-refundable contract which isn’t a normal market procedure in the multi-tenant retail market in Orange County, NY.
The eventual winning bidder was a local New Windsor-based experienced owner, and the sale price was $7,771,000 which represented a sub-8% cap rate on in-place income.
About Schuckman Realty Inc.: Schuckman Realty is a full service commercial real estate services firm serving New York City, Long Island, New Jersey, and the surrounding tri-state area. The Investment Sales team at Schuckman Realty Inc. brings vast and nuanced market knowledge, insight, and ingenuity to your portfolio from inception to completion. Schuckman Realty offers expertise in determining a property’s best use in terms of value gains to investors, extensive research and vetting process, access to qualified buyers and a proven sales & marketing team with a creative approach to maximize value.
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