288 Fair St
Kingston, NY 12401
Retail Property For Sale

Uptown Kingston building is located at the corner of Fair St and John Street, one of the busiest corners in Uptown. Building offers a restaurant on the first floor currently leased to an excellent tenant ($2,500 a month), tenant has about 4 years left on the lease, second floor is a sprawling 3 bedroom 1 1/2 bath apartment that is currently rented on a monthly basis for $1,800 a month with the tenant paying all their own utilities, also is approved for short term rentals and airbnb. "Uptown Kingston" is fast becoming a hub for film and tech industries. The owner has generated $4,000 plus in monthly rents in the upstairs apartment while hosting film and technical professionals. The building is one short block from Kingston's historic Senate House and the new and wildly popular Senate Garage Event Space. The owner has also hosted many groups of wedding guests in the apartment. The burgeoning Uptown area is soon to be home to several boutique hotels and a high end shopping center, multi level hotel and parking garage is in the works, just a minutes stroll from the building. Building has a full basement, restaurant has natural gas forced air heat, two gas hot water heaters and central air, second floor apartment has natural gas forced air heat and electric hot water heater, both tenants pay their own heat, hot water and electric. Restaurant tenant is responsible for paying 60% of the water bill, landlord pays for 40% of the water bill. Restaurant tenant has fist option to buy. Both rents are way below market value. Please see associated doc's for income and expense sheet.