Listing Courtesy of: Dante Belmonte - Hunt Real Estate ERA
315-682-7197
$799,900
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662 S Main St Central Square, NY 13036
Office
Residence
Beds
Baths
10,602
Sq. Ft.
0.31
Acre
Lot
Property Activity
Time on Site
days
Days on Market
Views
Saves
RARE opportunity to own a 100% occupied and cash-flowing retail strip mall in a prime location. Situated in the heart of Central Square, NY this center is located at a high traffic point giving lots of visibility. Well established tenants with thriving businesses throughout the entire property servi...ng as a great retail mix. 9 total diverse tenants. 9 storefronts with 1 two bedroom apartment on the second level. Major capex invested by the current owner in the last several years. Strong basis at only $90/sf. Room to grow rents to market rate of about $16/sf and bill back CAM's. NOI currently sits at $70,842 valuing this property at a 8.86% cap rate. Each tenant has a meter for gas/electric and pays their own utilities. Landlord pays water/sewer and one house meter on each building for exterior lighting. Water/sewer/taxes/insurance/exterior maintenance can be billed back to tenants allowing for a NN or NNN opportunity. This plaza consists of two buildings and two separate tax parcels.
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MLS#
S1545548
Property Type
Office
Year Built
1980
Square Feet
10,602
sq. ft
Lot Size
0.31
Sewer
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