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201-205 Cherry St
Jamestown, NY 14701
Retail Property For Sale
INVESTMENT HIGHLIGHTS
- 45,000 SF Investment & Redevelopment Opportunity
- Circa 1903, listed on Jamestown Downtown Historic District and eligible for Historic Tax Credits
- Extensive architectural features include rare American Chestnut woodwork and unique central courtyard
- Outstanding adaptive reuse potential- multifamily, mixed use, retail, office
- Steps from the internationally acclaimed National Comedy Center, Lucille Ball Desi Arnaz Museum, and Northwest Arena
- Seller desires a quick close — buyer can hold property as a profitable investment while redevelopment funding is secured
EXECUTIVE SUMMARY
45,000 SF Investment & Redevelopment Opportunity. Outstanding adaptive reuse potential- multifamily, mixed use, retail, office. Circa 1903, listed on Jamestown Downtown Historic District and eligible for Historic Tax Credits. Steps from the internationally acclaimed National Comedy Center, Lucille Ball Desi Arnaz Museum, and Northwest Arena.
Extensive architectural features include rare American Chestnut woodwork and unique central courtyard. Fully sprinklered. May qualify for city, county and state incentives. Currently twelve tenants in place, most are month-to-month. Seller desires a quick close — buyer can hold property as a profitable investment while redevelopment funding is secured.
Extensive architectural features include rare American Chestnut woodwork and unique central courtyard. Fully sprinklered. May qualify for city, county and state incentives. Currently twelve tenants in place, most are month-to-month. Seller desires a quick close — buyer can hold property as a profitable investment while redevelopment funding is secured.
PROPERTY FACTS
Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
44,982 SF
Building Class
B
Year Built
1902
Price
$495,000
Price Per SF
$11.00
Cap Rate
8.50%
NOI
$42,075
Tenancy
Single
Building Height
3 Stories
Building FAR
2.95
Lot Size
0.35 AC
Opportunity Zone
Yes
Zoning
Commercial
Parking
8 Spaces (0 Spaces per 1,000 SF Leased)
Frontage
125’ on Cherry St
PROPERTY TAXES
| Parcel Number | 060800-387-040-0003-051-000 | Improvements Assessment | $139,900 |
| Land Assessment | $35,100 | Total Assessment | $175,000 |
PROPERTY TAXES
Parcel Number
060800-387-040-0003-051-000
Land Assessment
$35,100
Improvements Assessment
$139,900
Total Assessment
$175,000
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