15
Map
6510 US HWY-83
About This Property
The land features scattered wooded areas along the north, west, and south boundaries that provide privacy and natural cover for wildlife. Situated on one of the higher points of the property is a metal building with electricity, set on a large engineered concrete slab. The building includes a large roll-up door and a covered awning, offering a great space for equipment storage, a workshop, or potential conversion into a barndominium.
Additional improvements include a rainwater collection system and a hand-dug water well that is currently not operable, offering potential for restoration or future water development. A stretch of original Highway 83 concrete runs along the western side of the property and could provide a ready-made surface for equipment storage, RV parking, or additional improvements.
With highway visibility, existing infrastructure, and flexible potential uses, this property is well suited for a small business location, recreational retreat, homestead, or investment opportunity.
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What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
Cap Rate provided by RealtyHop and RentHop, learn more about cap rate here.
Phone: 425-283-2930
Address: 335 Madison Avenue, New York, NY 10017