3 Main St - Showroom FOR SALE


Wassaic, NY 12592
$1,200,000 USD
347-834-6634
3 Main St, Wassaic, NY for Sale
$1,200,000 USD
Showroom - FOR SALE
1/32
null | 13.2% Cap Rate

3 Main St
Wassaic, NY 12592


HIGHLIGHTS

  • DOH-approved water treatment system; New private well in 2022- 385 ft deep, 75 gallons per minute.
  • New high-efficiency, on-demand, gas-fired boiler; Pumps and copper piping for heating and domestic water systems.
  • Mitsubishi mini-split heat pumps with ducted air handlers; Custom concealed and soundproofed linear grilles for AC flow.

OVERVIEW

What was once an old dairy barn from the 1920s has been transformed into a vibrant hub encouraging collaboration, design, and entrepreneurship. Driven by the goal to create a marketplace for talented makers and encourage well-crafted products within the community, Wassaic Commons was born. The barn has been meticulously and creatively restored by the owners, a Manhattan-based architect and designer, who teamed up with exceptional carpenters and local tradespeople, leaving no detail overlooked. Now, after six years of dedication, they are ready to pass the torch and invite you to embark on your own journey in celebrating the art of design, community, and the entrepreneurial spirit. With actual rents plus rental projections giving this property an 8.8% cap rate, this is a special turnkey investment property which can immediately start cash flowing. The artfully renovated first floor of the barn offers 4,800 square feet of versatile leasable space, directly accessible from the street and protected by a covered porch. The space can be subdivided into as many as four distinct retail storefronts, and has plumbing stubbed out. Featuring concrete floors and abundant windows, the space is designed to provide a modern yet rustic charm, ideal for a variety of businesses and ready for build-out based upon their own unique use. Retail space market value is currently leasing between $18-25/sq ft in comparable spaces. Above the retail area lies the hauntingly beautiful event space, filled with preserved history and details that can provide a stunning backdrop for any event. This space has been meticulously restored and preserved to keep as much of the original barn as possible. Originally designed as a receiving platform to load and unload coal, grain, and lumber from the passing train, the large doors that once perfectly aligned with freight cars are still intact. The timbers in the loft are charred black, an ancient Japanese finishing technique called shou sugi ban, which is naturally resistant to mold, mildew, and insects. The structure has been evaluated by structural engineers, architects, and timber specialists, is sound and in excellent structural condition, with little to no sagging or deflection. When designing the overhead lighting for the soaring 20 foot tall ceilings, the designers installed lighting mimicking the constellations of Polaris, Ursa Minor, and neighboring stars, suspended at various heights creating a breathtaking magical atmosphere. Event space market value is estimated around $10,000 per event. Occupying the market and kitchen space is the cornerstone tenant, Vitsky Bakery. Beloved by locals and visitors alike, people travel near and far just to get their hands on one of their famous cardamom buns or other treats. Lines can often be seen wrapping around the block, a testament not only to the success of the bakery but also of the area’s potential. Vitsky Bakery is currently operating on a month-to-month lease at $2,400/month. This market space was designed with a high-end coffee service in mind. Custom cabinetry, flexible and adaptable shelving, and high-end commercial appliances, including a high-temperature dishwasher, built-in ice maker, reach-in drink cooler with glass door, and dedicated electrical and plumbing connections for a commercial espresso machine were thoughtfully installed. Standout features also include new double insulated windows, sonos speaker sound system, and a custom fabricated Alaskan yellow cedar front door. Cabinetry, paneling, and millwork was all designed by the seller and architect Matthew Schnepf, and custom fabricated by master carpenters. The kitchen space includes extensive wiring and dedicated circuits for high-output appliances, a three-compartment sink with a hand spray, a vegetable wash sink, and a grease trap. Appliances include two True stainless steel reach-in refrigerators and one True stainless steel reach-in freezer. The outside storage shed holds extra storage space, as well as a 12x6 Coolbot Pro walk-in cooler. Wassaic, a hamlet located within the Town of Amenia in Dutchess County, is located just two hours north of Manhattan by car or train. Wassaic is a popular destination for visitors due to its easy accessibility as the last stop on Metro-North's Harlem line, which runs every two hours, seven days a week, throughout the year. The Wassaic train station is also accessible by foot or bike via the recently completed Harlem Valley Rail Trail, which extends another 46 miles north passing through Amenia, Millerton, and Copake. Situated along Route 22 (NY 343), a key roadway connecting upstate to New York City, Wassaic is centrally located between the well-established towns of Amenia, Millbrook, Millerton, Kent, Sharon, and West Cornwall. Residents frequently travel between these communities for work, dining, entertainment, and shopping. Standout businesses in the area include Canoe Hill, Ore Hill, Serevan, Stissing House, The Lantern Inn, Troutbeck, Willa Bar, Peggy’s Sweet & Savory, Ten Mile Distillery, Tent, and Four Brothers Pizza Inn + Drive In. The “big green barn” as it’s colloquially known, is conveniently situated at the end of Main Street- adjacent to the Amenia Stream. Artists and creatives have also begun to flock to the area with the establishment of the Wassaic Project, founded in 2008 as an artist residency program for emerging artists and also participates in Upstate Art Weekend, along with many other organizations and culinary institutions. Building Specs: Barn Ground Floor 5,320 total ground floor area 3,600 sf raw retail space, subdivisible 800 sf finished market space- occupied by Vitsky Bakery 400 sf finished commercial kitchen- occupied by Vitsky Bakery 520 sf finished office, bathrooms, mechanical Barn Second Floor 5,320 total second floor area 3,600 sf event and exhibition space 1,720 sf mechanical and storage space

FOR SALE DETAILS

PRICE

$1,200,000 USD

PRICE/SF

$105 USD /SF

CAP RATE

13.2%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Flex

PROPERTY SUBTYPE

Showroom

ADD'L SUBTYPES

Freestanding, Storefront

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

UTILITIES

Lighting, Gas, Water, Sewer, Heating

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.54

LAND SF

23,522

ZONING

HM

APN/PARCEL ID

132000-7165-01-087807-0000

ASK ABOUT THIS PROPERTY

Catherine QuintardUpstate Curious TeamMore Info
347-834-6634

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Catherine QuintardUpstate Curious TeamMore Info
347-834-6634

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.