Available For Sale - Multifamily

6,094 SF | Show Pricing $

LISTED BY

James Lucenti
SVN | Innovative Commercial Advisors, 607-354-6206

AVAILABILITY DETAILS

Size
6,094 SF
Price/SF
Show Pricing $
Listing ID
SA544254
Notes
This commercial real estate mixed use building is located within a Federal Opportunity Zone brimming with potential. With Endicott boasting a rich history as the birthplace of IBM and recent announcements of a Battery Manufacturer and Solar Manufacturer, the area's trajectory is clear. Moreover, a $160M research and development grant, alongside recognition as one of the 32 Technology hubs by the Biden Administration, underscores its promising future. Currently, 7 out of 8 apartments are rented and there is one vacant retail space. The other retail space will soon become home to a new 2000 sq ft coffee shop with a signed 7-year lease that includes incremental rent increases, presenting a stable income stream. With separate utilities and a strategic location, this investment promises not just returns, but a stake in Endicott's flourishing commercial market. All rents are well below FMR for the area leading to a significant value add opportunity. Don't miss your chance to be part of this thriving narrative—a valuable asset awaits those ready to seize it.

The same owner has had this property since 2016. In 2001 he changed LLC's and refinanced it. This looks like a sale in public records. It was not.
Uses
Multifamily

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
James Lucenti, SVN | Innovative Commercial Advisors
BRE# 104013002147