Commercial property consisting of a 12-unit Apartment Building, a Large Single-Family Home, an Office, and a 28-room motel (that is intheprocess of being converted into 16 new apartments). The apartment building is about 50/75% renovated with great tenants, the houseiscurrently vacant but rent-ready, the office is vacant and the motel is under conversion into 16 newly approved apartments. There aretwosections of the Motel, one section is completely gutted and about 75% framed for the new apartments, and the other motel strip has 10originalmotel rooms that could be rented AS-IS and then the last 4 units in that strip are partially gutted. The property is priced for a quick sale.Ownerestimates about $275,000 to complete the property renovation. Income and expense sheet is estimated based on renovation completion.Caprate is based on asking price of $1,395,000 + estimated renovation costs of $275,000= $1,670,000 completion price with projected rents(see attached associated doc’s).
View full listing details| Price: | $$1,395,000 |
| Address: | 14311 Route 9W |
| City: | Call Listing Agent |
| County: | Greene |
| State: | New York |
| Zip Code: | 12143 |
| MLS: | H6215822 |
| Year Built: | 1950 |
| Acres: | 3.550 |
| Lot Square Feet: | 3.550 acres |
