6570 State Highway 56Potsdam, NY 13676

Property Details for 6570 State Highway 56

Year built

1957

Lot size

1.70 AC

Property size (Sq ft)

7,054 SF

Zone code

01 - NOT ZONED

Property type

Motels

APN

407489 64.034-4-21

APU

40748964034421

Description

Invest in this exceptional 1.7-acre commercial property located at 6570 State Highway 56, Potsdam, NY. Boasting 264 feet of road frontage on the heavily traveled Route 56, this site offers unparalleled visibility and access to a high volume of traffic. The property includes a 7,054 square foot building, though it is in poor condition and its value is primarily in the land itself. This presents a unique opportunity for redevelopment, catering to a wide range of commercial ventures. The strategic location, within 12 miles of four major universities and proximate to healthcare institutions and offices, ensures high traffic exposure and convenient access for potential customers. This prime commercial real estate presents a rare chance to establish a thriving business in a bustling area of Potsdam. The substantial lot size and high visibility make this an ideal investment for entrepreneurs seeking a prominent location with significant redevelopment potential. Don't miss this chance to secure a piece of prime commercial real estate in a thriving community. The property is priced at $389,900.

• CAP approach

  CAP return

  Valuation

  6%

  $1,990,347

  6.5%

  $1,837,243

  7%

  $1,706,012

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,180,496

  Geo Method

  $2,165,938

• Alternative Use

  Use

  Valuation

  Residential

  $2,005,736

  Hospitality

  $1,837,243

  Educational

  $1,528,565

  Medical

  $1,581,134

  Retail

  $2,377,768

Location Insight

City

Potsdam

County

St. Lawrence

State

New York

Latitude

44.6867

Longitude

-74.9863

CBSA code

36300

CBSA name

OGDENSBURG-MASSENA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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