222 River StWarrensburg, NY 12885

Property Details for 222 River St

Year built

1860

Lot size

0.38 AC

Property size (Sq ft)

2,909 SF

Zone code

01 - NOT ZONED

Property type

Retail properties

Property subtype

Bars

APN

524000 210.20-5-34

APU

52400021020534

Description

This exceptional multi-use property, located at 222 River St in Warrensburg, NY, presents a unique investment opportunity. The 2,909 square foot building, constructed in 1960, sits on a prime location along the Schroon River and is zoned for commercial use. Currently operating as a combination bar, convenience store, and restaurant, the property boasts a 50% occupancy rate and generates a substantial monthly rental income of $3,000 from second-floor apartments. The asking price is $320,000, translating to $110 per square foot. The property features a gross lease and consists of a single, two-story building. Its versatile nature allows for a variety of uses, including continuing operation as a tavern and restaurant, or repurposing as a deli or bait shop, capitalizing on the riverfront location and high foot traffic. The property is situated in Warren County, NY, with a zip code of 12885. This is a rare chance to acquire a well-established business with significant income potential and the flexibility to adapt to future market demands. The property's strong location and diverse income streams make it an attractive investment for both seasoned and new investors. The building is in need of some updating and improvements.

• CAP approach

  CAP return

  Valuation

  6%

  $1,062,282

  6.5%

  $980,568

  7%

  $910,527

• Comparable approach

  Method

  Valuation

  Relative Method

  $964,265

  Geo Method

  $957,827

• Alternative Use

  Use

  Valuation

  Residential

  $827,146

  Hospitality

  $757,661

  Educational

  $630,365

  Medical

  $652,044

  Retail

  $980,568

Location Insight

City

Warrensburg

County

Warren

State

New York

Latitude

43.4871

Longitude

-73.7799

CBSA code

24020

CBSA name

GLENS FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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