To Sell or Not To Sell - Lower Hudson Valley, NY - Mixed Use

[Jeremy Trier]

Hi BP Fam,

My family co-owns a building in a small town in NY state in southern Hudson Valley region.  West of the Hudson.  It's 6 apartments and 4 retail shops below.  Total annual income is $185,000.  The building is owned free and clear and it's fully rented.  The shops do well enough to pay rent and the apartments are in nice shape and bringing in below market rent.  Some of the share holders are saying now is the time to sell but none of them are experienced in real estate.  Any one of them can sell back their share but none can be sold to new owners.

We had the building appraised a couple years ago and it was valued at $1,750,000. Probably worth $2mil.

What is the market like in the Hudson Valley NY area for mixed use buildings?  We don't live in that area anymore.  Anyone familiar with buildings that are in downtown Nyack or Peirmont?  

I know what I think we should do, but I wanted to get some feedback from you all.

Thanks