607 James StRome, NY 13440

Property Details for 607 James St

Year built

1955

Lot size

0.20 AC

Property size (Sq ft)

3,361 SF

Zone code

W

Property type

Gas stations

APN

301301 242.073-0001-024

APU

3013012420730001024

Description

This 3,985 square foot industrial property, located at 607 S James St, Rome, NY 13440, is a fully operational, turnkey automotive repair and sales facility. The single-story building, constructed in 1955, sits on a 0.2-acre lot and features four bays, including three front bays equipped with lifts and a newer rear bay accommodating larger trucks with a 12-foot overhead door. Internal access between the front and rear bays is provided by a fifth overhead door and an entry door. A spacious office area and partial basement storage are also included. The property includes 20 parking spaces and all public utilities (water, sewer, and gas) are connected. Environmental documentation is available. This is a sale-leaseback opportunity, allowing for immediate income generation or the commencement of operations by a new owner. The property is zoned for commercial repair and sales and offers a significant price reduction for a quick sale. The asking price is $295,000, representing a price per square foot of $74.03. This represents a significant opportunity for an owner-user or investor seeking a profitable venture in a well-established location. The property's long history in the community provides a strong foundation for continued success.

• CAP approach

  CAP return

  Valuation

  6%

  $1,227,339

  6.5%

  $1,132,928

  7%

  $1,052,005

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,114,092

  Geo Method

  $1,106,654

• Alternative Use

  Use

  Valuation

  Residential

  $955,667

  Hospitality

  $875,386

  Educational

  $728,311

  Medical

  $753,359

  Retail

  $1,132,928

Location Insight

City

Rome

County

Oneida

State

New York

Latitude

43.2045

Longitude

-75.4638

CBSA code

46540

CBSA name

UTICA-ROME, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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