Description

The subject property is a mid-sized neighborhood center with outstanding potential upside located within New York's famous Finger Lakes. With a strong compilation of national, regional, and local tenants this mix of staggered shorter-term leases gives the seasoned shopping center investor or developer the opportunity to retenant after a few years, raise rents, add-on facilities considering the extremely large lot, etc.. With a mix of retail and office tenants the opportunities are endless. Ideally situated within downtown Penn Yan, with very little retail services within the city limits. Lake Street Plaza is the only neighborhood center within 30 miles to Geneva and 40 Miles to Watkins Glen. Hence, Lake Street Plaza is the main retail draw of the area, with very little competition throughout the rest of Yates County.

Penn Yan, New York is situated in the picturesque Finger Lakes, nationally known for boating and wine tasteing throughout the Northeast. Conveniently located roughly 70 miles form Syracuse, 50 miles from Rochester, 50 miles from Ithaca, 115 miles from buffalo, and under 300 miles from New York City; making the property's access abundantly easy from mostly all New York metropolitan areas. This offering provides an investor the opportunity to basically monopolize and control the retail of this quaint city known for the avid boater, wine enthusiast, or amateur pilot vacationers.