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33 Trust Way, Middletown, NY, 10940 | $2,500,000
Prime commercial/retail development opportunity in the heart of Orange County—33 Trust Way, Middletown, NY—currentlyhome to the well-established Orange Bank & Trust Company. The bank will be relocating in the area and will lease back for $10k/month NNN on a month to month basis until their new branch is ready for occupancy, allowing for immediate income while in the development phase. This exceptional two-parcel bundle offers unparalleled visibility and accessibility in a thriving business district in the Town of Wallkill, Town Center (TC) Zone (see zoning in Documents). The first parcel, where the bank is operating (SBL 50-2-59), boasts approximately 364 feet of road frontage on Schutt Rd. , 321 feet on Trust Way, and 306 feet on Dunning Rd consisting of 2. 7 acres, providing excellent exposure for businesses. The adjacent 1. 8-acre vacant commercial lot (SBL 50-2-60) further enhances development potential, featuring 203 feet of frontage on Trust Way and 234 feet on Schutt Rd. Ideally positioned near major highways, shopping centers, and medical facilities, this property is perfectly suited for professional offices, retail establishments, restaurants or medical facilities, offering modern amenities designed for efficiency and comfort. A proposed engineer conceptual plan idea is also attached. Please note that a 10-year banking institution restriction applies. This is a rare chance to secure a premier commercial asset in a high-traffic, high-growth area—don’t miss out on this outstanding investment opportunity!
Features
- Property Type: Retail
- Construction: Brick, Frame
- Utilities: Cable Available, Electricity Available, Natural Gas Available, Phone Available, Sewer Available, Water Available
- Parking: 70-car, Common
- Levels: 1
- Heating: Natural Gas
- Cooling: Central Air
- Acreage: 4.5
- Est. Taxes: $65,578
- Lot Desc: Level, Near Public Transit, Paved, Private, See Remarks
- MLS#: 825681
- Days on Market: 40 days
- Website: https://www.raveis.com
/prop/825681/33trustway_middletown_ny?source=qrflyer
William Raveis Family of Services
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888.699.8876
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Sarah DeFlorioVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 1880936
347.223.0992
Sarah.DeFlorio@Raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
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Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
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Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
33 Trust Way, Middletown, NY, 10940
$2,500,000
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Sarah DeFlorio
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $2,000,000 | $2,000,000 | $2,000,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.375% | 6.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.614% | 6.511% | 6.309% |
| Monthly Tax Payment | $5,465 | $5,465 | $5,465 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $11,356 | $12,477 | $17,013 |
| Total Monthly Payment | $16,946 | $18,067 | $22,603 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
NY Licensed Mortgage Banker-NYS Banking Department LMBC 106535