About 662-668 S Main Street
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 serving 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.
Features of 662-668 S Main Street
MLS® # | S1545548 |
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Price | $799,900 |
Bathrooms | 0.00 |
Square Footage | 10,602 |
Square Footage | 13700 |
Acres | 0.31 |
Year Built | 1980 |
Type | Commercial Sale |
Sub-Type | Office |
Status | Active Under Contract |
Community Information
Address | 662-668 S Main Street |
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Area | Central Square-Village |
Subdivision | Section 27610 |
City | Hastings |
County | Oswego |
State | NY |
Zip Code | 13036 |
Amenities
Utilities | Sewer Connected, Water Connected |
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Parking Spaces | 21 |
Is Waterfront | No |
Has Pool | No |
Interior
Heating | Gas, Forced Air, Electric |
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Fireplace | No |
# of Stories | 2 |
Stories | 2 |
Has Basement | No |
Exterior
Roof | Asphalt, Membrane, Rubber |
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School Information
District | Central Square |
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Additional Information
Zoning | Com-1 |
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Short Sale | No |
RE / Bank Owned | No |
Listing Details
Office | Hunt Real Estate ERA |
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