6879 Erie Rd 15 Unit Apartment Building $1,000,000 ($66,667/Unit) 5.72% Cap Rate Derby, NY 14047

This unique commercial investment opportunity features 15 units across 11 buildings on a single lot, zoned as a motel and currently rented as residential units, generating over $110,000 annually in rental income. With the potential to raise rents or convert the units to short-term rentals for significantly increased earnings, this property presents a versatile income opportunity. All buildings have been well-maintained, with new roofs, water lines, gas lines, and electric lines installed. Located on Route 5 in Derby, this prime location offers high visibility and steady traffic flow, connecting to the scenic Lake Erie shoreline. The surrounding residential neighborhoods provide a strong local customer base, and nearby attractions like Lake Erie Beach Park draw visitors year-round, making this property ideal for a variety of commercial ventures.