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360 Rock Cut Road

Newburgh NY 12586

500940 sq. ft.
Land
Currently for sale - view listing

Overview

When opportunity comes knocking, the wise answer while the skeptics waver. This is your opportunity, 11.5 acres of land lakefront property. Orange Lake in Newburgh is a popular spot that is teeming with activity during the summer, motorboating, kayaking, and fishing just to name a few. And to some, there is also ice fishing in the winter. Residents who reside at the lakeside come together as a community and enjoy cozy dining at the Restaurant on the Lake. This parcel of 11.5 acres is zoned R1 and has the makeup of 7 acres of wetland which is protected and can be used solely for the boardwalk, and then another 4.5 acres of dry land which is buildable in either 1 full house claiming 3600 square feet which will equate to a cap rate 42% and Cash rate 62% or a duplex allowing for 2400 square feet of per unit which will equate to a cap rate 53% and Cash rate 94%. Renderings are available for each option upon request. Approvals have been obtained from the following, Dept of Transportation and Dept of Health. Investor's potential boon: since this parcel is zoned R1 which allows for, building 1 house to an acre, there is an excellent opportunity for a builder to hire the right architect who can come up with a subdivision layout and go for approval to build 4 houses on 1 acre each. This property is expected to go quickly submit your offer while this property lasts

Features

500940 sq. ft. lot size
Land

Happy sellers in Newburgh

87%
87% of sellers in Newburgh reported that their sale price either exceeded or met their price expectations.

Newburgh stands out for consistently delivering exceptional satisfaction and strong market results for homeowners.

This is based on voluntary sentiment collected from 3 reviews in Newburgh over the last 12 months.

Local market activity for land plots in Newburgh

In the last 12 months, 4 land plots similar to 360 Rock Cut Road, have been sold.

This represents a 34% increase in land plots sales when compared to the previous 12 months.

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Sales:
(619) 566-0008
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