20-22 Main StAmsterdam, NY 12010
- Investment properties
- 5,856 SF
Property Details for 20-22 Main St
- Year built
- 1960
- Lot size
- 0.05 AC
- Property size (Sq ft)
- 5,856 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 270100 55.35-1-48
- APU
- 2701005535148
Description
This exceptional three-story mixed-use building, located at 20-22 Main Street in Amsterdam, NY, presents a unique investment opportunity. Boasting 5,856 square feet on a 0.05-acre lot, this property offers significant potential for redevelopment. Built in 1960, the building is zoned commercial and features a multi-tenancy setup, ideal for a variety of uses. The asking price is $220,000, translating to $37.57 per square foot. The City of Amsterdam has awarded a $1 million grant through the Empire State Development Restore NY Program for building renovations in the area, presenting a compelling incentive for potential buyers. Note that a full gut rehabilitation is anticipated. The property's prime location on Main Street places it in the heart of Amsterdam, a city experiencing significant investment and revitalization. The property's APN is 55.35-1-48. This is a rare chance to acquire a substantial commercial property in a rapidly developing area. Serious inquiries are encouraged.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $1,454,721
- 6.5%
- $1,342,820
- 7%
- $1,246,904
-
Comparable approach
- Method
- Valuation
- Relative Method
- $770,288
- Geo Method
- $765,145
-
Alternative Use
- Use
- Valuation
- Residential
- $1,665,096
- Hospitality
- $1,525,219
- Educational
- $1,268,964
- Medical
- $1,312,606
- Retail
- $1,973,945
Location Insight
- City
- Amsterdam
- County
- Montgomery
- State
- New York
- Latitude
- 42.9371
- Longitude
- -74.1929
- CBSA code
- 11220
- CBSA name
- AMSTERDAM, NY MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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