8583 New Floyd RdRome, NY 13440

Property Details for 8583 New Floyd Rd

Year built

1989

Lot size

6.56 AC

Property size (Sq ft)

1,792 SF

Zone code

1

Property type

Turn key restaurants

APN

303600 226.000-1-64

APU

303600226000164

Description

This exceptional commercial property presents a unique investment opportunity in Rome, NY. The 1,792 square foot building sits on a substantial 6.56-acre lot, offering significant expansion potential and high visibility due to its prime location. The property boasts ample parking for over 30 vehicles and includes commercial-grade appliances and equipment, which convey with the sale. Inside, the building comfortably accommodates 75-80 people, with additional outdoor seating possibilities. A full basement with a walk-out entrance adds versatility, and a 1,000-gallon concrete septic tank is already in place. The level grounds, previously home to a driving range, are ideal for a variety of commercial or mixed-use projects. Stadium lighting remains, adding to the property's potential. The property's location in a thriving area, near successful storage businesses, makes it particularly attractive for ventures such as storage units or a restaurant. This property offers the space and flexibility to realize a wide range of commercial endeavors. The level terrain provides a solid foundation for future development, making this a truly exceptional opportunity in the growing Mohawk Valley.

• CAP approach

  CAP return

  Valuation

  6%

  $654,386

  6.5%

  $604,049

  7%

  $560,902

• Comparable approach

  Method

  Valuation

  Relative Method

  $594,006

  Geo Method

  $590,040

• Alternative Use

  Use

  Valuation

  Residential

  $509,538

  Hospitality

  $466,734

  Educational

  $388,317

  Medical

  $401,672

  Retail

  $604,049

Location Insight

City

Rome

County

Oneida

State

New York

Latitude

43.221

Longitude

-75.3193

CBSA code

46540

CBSA name

UTICA-ROME, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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