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101 Main st 8,298 SF 100% Leased Retail Building Phelps, NY 14532 $350,000 ($42.18/SF) 11.46% Cap Rate
EXECUTIVE SUMMARY
Presenting a rare opportunity to acquire a distinguished and highly sought-after “PRIME” piece of real estate, renowned within the community and boasting a loyal clientele built over 60 years. This prime property, situated in a high-traffic area, promises a lucrative investment with substantial potential for continued success. The building encompasses 8,298 sq. ft. and features: Versatile Retail Spaces: 2 or 3 ground-floor retail spaces ideal for a variety of uses including a store front, hair salon, restaurant, or event space with expansive front windows, ensuring maximum visibility and appeal. Residential Units: 3 spacious upper-level apartments, each offering comfort and convenience with the added benefit of an open deck at the rear. Looking to start a business? Let the rental income from the apartments help cover your business space costs, making this an even more attractive investment. Upgrades include a new rubber roof installed in 2015 & new back stairs, ensuring durability and long-term value. Seize this exceptional opportunity to own a landmark property with a storied legacy and significant future potential
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
8,298 SF
Building Class
C
Year Built
1839
Price
$350,000
Price Per SF
$42.18
Cap Rate
11.46%
NOI
$40,122
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.20
Lot Size
0.96 AC
Zoning
05 - COMME - Commercial; Mixed-Use
Frontage
46’ on Main Street
PROPERTY TAXES
| Parcel Number | 324001-048-009-0001-016-000 | Improvements Assessment | $170,800 |
| Land Assessment | $9,200 | Total Assessment | $180,000 |
PROPERTY TAXES
Parcel Number
324001-048-009-0001-016-000
Land Assessment
$9,200
Improvements Assessment
$170,800
Total Assessment
$180,000
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101 Main st
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