422 - 430 Main Street
Beacon, NY

Two adjacent building with potential long-term upside. Building A-Renovated Hotel and Studios - 12 modern studio apartments. Well-known restaurant with long-term lease on ground floor. Building B (Historic SRO). 3 ground floor retail spaces.

As exclusive sales agent Avison Young, in partnership with Quinn Realty Group, is pleased to offer for sale 422-430 Main St. Beacon, NY (the “Property”). The property consists of two attached mixed-use buildings: Building A.) the 4-story 12-unit ‘Beacon Studio Apartments’ fully renovated in 2022 with kitchen and private bath that are fully furnished, above aground floor restaurant, and Building B.) a 26-unit single-room occupancy (SRO) units above three ground floor retail units. The SRO and one ground floor retail leases include a demolition clause for future unencumbered redevelopment.

Building A - Landlord operates the 12 studio apartments and retail in Building A, all of which are fully occupied. Two of the 12 studio apartments are leased to Hudson Valley Short Term Rental which manages daily subleases. Total rent for Building A is $264,000/year ($22,000/month), will remain in place during planning, permitting, and building.

Building B - The 26 SRO units are master leased and includes a demolition clause. Landlord is responsible for real estate taxes while tenant is responsible for utilities, maintenance and insurance. Rent is $13,000/month ($500/unit/month) with4% annual increases. Tenant’s superintendent occupies one of the SRO units while another features a convenience store.Total rent for Building B is $156,000/year and will also remain in place until demolition and redevelopment commences.

Retail – Four retail units on the ground floor generate an additional projected $189,000/year in rent.