High visibility location on the bustling Route 22 corridor, south of Millerton Village - parking plans available. Restaurant building in need of extensive renovation. Most of the exterior needs to be replaced, including roof decking and outer (perimeter) posts and beams. Mold present. Recently approved by Dutchess County Health for a 24-seat restaurant based on the existing 1500 gallon septic tank and 1500 gallon grease trap. Due to the size of septic system daily wastewater flow requirement is under 1000 GPD therefore no SPDES permit required. Approved for public water supply treatment. Agricultural zoning. Property has wetlands. Restaurant use was approved with a variance that does not expire due to vacancy or change in ownership. In the 1970s and 1980s "The Oasis" had a SPDES permit with seating capacity of about 80 seats including the bar (shown in photo). Must have an approved appointment through the listing agent to be on the property, and be accompanied by a buyer's agent or the owner. Driveway entrance is closed outside of appointment times. Buyer must do their own due diligence.
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $72,000 | $72,000 | $72,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 6.125% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.655% | 7.146% | 6.412% |
Monthly Tax Payment | N/A | N/A | N/A |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $491 | $479 | $612 |
Total Monthly Payment | $566 | $554 | $687 |
* 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.