310 Main StEndicott, NY 13760

Property Details for 310 Main St

Year built

1960

Property type

Residential income homes

Property subtype

Investment properties

Description

This exceptional investment opportunity encompasses four prime commercial buildings strategically located in Endicott, New York – a town experiencing significant revitalization fueled by recent expansions in battery and solar manufacturing. The portfolio includes 310 E Main St, 102-106 Main St, 1104 Monroe Ave, and 303 Robble Ave, totaling 33 residential units boasting 38 bedrooms, and two commercial spaces. The properties generate a substantial combined gross annual rent of $320,316, resulting in a strong net operating income of $182,179.17. This translates to an attractive 9.44% capitalization rate, exceeding the local market average of 8.7%. The average price per unit stands at $54,454, and the gross rent multiplier (GRM) is 6.02. Endicott's rich history as the birthplace of IBM and Endicott Johnson Shoes, coupled with this recent economic growth, positions this portfolio as a compelling investment with significant potential for future appreciation. The properties are well-situated within a thriving community, offering a blend of residential and commercial income streams. This is a rare opportunity to acquire a substantial multifamily portfolio in a rapidly developing market. The combined properties offer a diversified income stream and a strong return on investment.

Location Insight

City

Endicott

County

Broome

State

New York

Latitude

42.0946

Longitude

-76.0612

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