255 Grant AveAuburn, NY 13021

Property Details for 255 Grant Ave

Year built

1955

Lot size

1.72 AC

Property size (Sq ft)

11,328 SF

Zone code

HC

Property type

Motels

APN

050100 109.56-1-4

APU

501001095614

Description

This exceptional 1.72-acre commercial development site in Auburn, New York, presents a lucrative investment opportunity. Located at 255 Grant Avenue, this property boasts a prime location in the busiest retail corridor of Auburn, situated within the heart of the Finger Lakes Region. The site features 11,328 square feet and is zoned for highway commercial use, offering significant potential for various retail developments. The asking price is $1,900,000, translating to $167.73 per square foot. The property includes two existing buildings, each two stories high, currently under a ground lease. This high-traffic area sees 30,864 vehicles per day. The site's strategic location is further enhanced by its adjacency to Auburn Plaza, a thriving retail center anchored by established national brands such as Marshalls, Aldi, Planet Fitness, Harbor Freight, and Dollar Tree. This presents a unique chance to capitalize on the existing synergy and high consumer traffic within this established retail hub. The property's Net Lease structure offers potential for diverse income streams and development strategies. This is an unparalleled opportunity to acquire a premier development site in a dynamic and rapidly growing market.

• CAP approach

  CAP return

  Valuation

  6%

  $2,077,760

  6.5%

  $1,917,932

  7%

  $1,780,937

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,432,028

  Geo Method

  $3,478,274

• Alternative Use

  Use

  Valuation

  Residential

  $2,093,825

  Hospitality

  $1,917,932

  Educational

  $1,595,697

  Medical

  $1,650,576

  Retail

  $2,482,195

Location Insight

City

Auburn

County

Cayuga

State

New York

Latitude

42.9517

Longitude

-76.5468

CBSA code

12180

CBSA name

AUBURN, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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