426 Main StMassena, NY 13662

Property Details for 426 Main St

Year built

1965

Lot size

0.42 AC

Property size (Sq ft)

7,822 SF

Zone code

CTD

Property type

Retail space

APN

405801 9.083-6-29.1

APU

40580190836291

Description

This exceptional 7,822 square foot multi-family property located at 426 Main St, Massena, NY, presents a compelling investment opportunity. Situated on a 0.42-acre lot, this building offers significant versatility due to its flexible zoning, accommodating a wide range of commercial uses from retail to automotive sales. The property's current configuration includes a spacious two-bedroom apartment on the upper level, currently generating a monthly income of $1,700 from the first floor alone. This income stream provides immediate return on investment, while the expansive commercial space below offers significant potential for further revenue generation. The building's substantial size and prime Main Street location in Massena, NY, ensure high visibility and accessibility. This property is an ideal choice for investors seeking a blend of immediate income and long-term growth potential. The adaptable zoning allows for a variety of business ventures, making it a truly unique and valuable asset. The existing rental income provides a solid foundation for future expansion and development. This is a rare opportunity to acquire a well-located, income-producing property with significant upside potential in a thriving community. Don't miss this chance to secure a valuable piece of Massena real estate.

• CAP approach

  CAP return

  Valuation

  6%

  $2,856,366

  6.5%

  $2,636,646

  7%

  $2,448,314

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,592,808

  Geo Method

  $2,575,497

• Alternative Use

  Use

  Valuation

  Residential

  $2,224,109

  Hospitality

  $2,037,272

  Educational

  $1,694,986

  Medical

  $1,753,280

  Retail

  $2,636,646

Location Insight

City

Massena

County

St. Lawrence

State

New York

Latitude

44.9183

Longitude

-74.8892

CBSA code

36300

CBSA name

OGDENSBURG-MASSENA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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