MLS#959966
STATUSActive
PROPERTY TYPECommercial -
SCHOOLNewburgh
Property Description
238-240 Grand Street is a six-unit multifamily investment, with approval for basement unit, set within a late-19th-century brick residence, a period when buildings were constructed to endure. The property's solid masonry walls, ornate cornice work, and classic proportions speak to an era of craftsmanship rarely replicated today, offering investors a tangible sense of permanence alongside reliable income.Originally built as a grand single residence, the building has been thoughtfully adapted into income-producing apartments while retaining its architectural character. Wide window bays, generous ceiling heights, and substantial wall construction translate into apartments that rent well and hold value through market cycles.From an investment standpoint, the asset delivers stabilized in-place income at a competitive cap rate, supported by a straightforward expense profile and proven tenancy. The structure's load-bearing brick construction with wood-framed floors and roof offers long-term durability that continues to attract tenants and investors alike.The offering includes an adjacent lot used exclusively for off-street parking, an understated but meaningful amenity that supports tenant retention in this historic neighborhood. No development potential is being marketed; the parcel functions solely as parking.Situated moments from the Newburgh Waterfront and key regional employers, the property benefits from consistent rental demand while offering investors ownership of a true historic asset-one that blends architectural legacy with modern income performance.
Property Features
Property Type: Commercial -
Basement: Yes
Basement: See Remarks, Unfinished
Cooling: Wall/Window Unit(s)
Heating: Baseboard, Natural Gas
Lot Size: 0.17 Acres
Taxes: $26,289
Year Built: 1890
Feature Descriptions
Building Area Total: 8488
Days on Site: 66
Exterior: Brick
House Faces: West
Lot Features: Historic District, Near Public Transit, Near School, Views
On Market Date: 2026-02-09
Parcel Number: 331100-012-000-0002-018.100-0000
Parking Features: Off Street
Parking Total: 8
Property Attached Y/N: 1
Rental Term: Monthly
Separate Electric Meters: 6
Separate Gas Meters: 6
Sewer: Public Sewer
Special View Info: Mountain(s), River
Tenant Pays: Electricity, Heat
Units: 6
Utilities: Electricity Available, Electricity Connected, Natural Gas Available, Natural Gas Connected, Sewer Available, Sewer Connected, Trash Collection Public, Water Available, Water Connected
Water: Public
Local Schools
High School: Newburgh Free Academy
Middle School: Newburgh
Elementary School: Newburgh
School District: Newburgh
Listed By / Shown By
Listing By
Agency Name: RE/MAX Benchmark Realty Group
Agency Contact: 845-565-0004
Shown By
Agency Title: Coldwell Banker Choice Properties
Agency Phone: 833-88-CHOICE (2-4642)
Broker Headquarters, 621 Columbia St. Suite 800, Cohoes, NY 12047
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238-240 Grand Street | MLS# 959966
This commercial property located at 238-240 Grand Street, Newburgh, NY 12550 is currently listed for sale with an asking price of $1,200,000. 238-240 Grand Street is located within the Newburgh school district. Search Newburgh real estate on www.coldwellbankerchoice.com today.