1302 Ford StOgdensburg, NY 13669

Property Details for 1302 Ford St

Year built

1970

Lot size

0.07 AC

Property size (Sq ft)

3,916 SF

Property type

Investment properties

Property subtype

Live-work space

APN

401200 48.072-2-63.1

APU

401200480722631

Description

This unique Ogdensburg, NY property presents a compelling investment opportunity. Located on a main city street with high traffic volume, the building boasts a substantial 5,518 square foot footprint situated on a lot with ample rear parking. The main floor comprises approximately 2,314 square feet of commercial space, previously operating as a bar, now featuring new flooring, lighting, electric, and gas heating systems, all updated to meet fire codes in 2023. The original wooden bar remains. Additional storage or office space is available in the rear. Upstairs, approximately 1,602 square feet houses eight single-occupancy bedrooms (currently renting for $500/month each), two full bathrooms (one for men, one for women), and an unfinished area suitable for a shared kitchen. Recent renovations include new windows, doors, and interior painting. A connected, fully renovated two-bedroom, one-bathroom house (approximately 1,602 square feet) is also included, currently leased until September 30, 2023, for $700 per month. This house features a gas monitor heater, paid by the tenant. The upper level has electric baseboard heat supplemented by gravity heat from the main floor. The property is secured with multiple cameras and a monitored fire/police alarm system (annual fee approximately $700). The existing thrift store business will be liquidated prior to sale. The buyer is responsible for verifying zoning compliance with city codes and ordinances. A minimum 48-hour notice is required for showings, and pre-approval is necessary. Showings are preferred during business hours. Washer and dryer do not convey.

• CAP approach

  CAP return

  Valuation

  6%

  $972,795

  6.5%

  $897,965

  7%

  $833,824

• Comparable approach

  Method

  Valuation

  Relative Method

  $515,104

  Geo Method

  $511,665

• Alternative Use

  Use

  Valuation

  Residential

  $1,113,476

  Hospitality

  $1,019,938

  Educational

  $848,577

  Medical

  $877,760

  Retail

  $1,320,008

Location Insight

City

Ogdensburg

County

St. Lawrence

State

New York

Latitude

44.7035

Longitude

-75.4802

CBSA code

36300

CBSA name

OGDENSBURG-MASSENA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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