251 Main StJohnson City, NY 13790

Property Details for 251 Main St

Year built

1960

Lot size

0.08 AC

Property size (Sq ft)

6,460 SF

Zone code

UMF

Property type

Investment properties

Property subtype

Live-work space

APN

034603 143.57-2-31

APU

3460314357231

Description

This exceptional 6,460 square foot storefront property at 251 Main Street in Johnson City, New York, presents a remarkable investment opportunity. Built in 1960, this three-story building sits on a 3,448 square foot lot and is currently vacant, offering a blank canvas for a discerning buyer. The asking price is $175,000, translating to $27.09 per square foot. Located in Broome County, NY, 13790, this high-visibility property boasts prominent street frontage, ensuring maximum exposure for any retail venture. The property is zoned UMF, allowing for a variety of retail uses. Architectural plans are available, detailing a potential conversion into four residential units (three two-bedroom units and one four-bedroom unit). This presents a unique opportunity to capitalize on both retail and residential markets. The building's substantial size and prime location make it an ideal space for a diverse range of retail businesses seeking a prominent presence in a thriving community. Don't miss this chance to acquire a significant commercial property with substantial redevelopment potential in a desirable New York location.

• CAP approach

  CAP return

  Valuation

  6%

  $997,101

  6.5%

  $920,401

  7%

  $854,658

• Comparable approach

  Method

  Valuation

  Relative Method

  $495,350

  Geo Method

  $844,064

• Alternative Use

  Use

  Valuation

  Residential

  $1,141,297

  Hospitality

  $1,045,422

  Educational

  $869,779

  Medical

  $899,692

  Retail

  $1,352,989

Location Insight

City

Johnson City

County

Broome

State

New York

Latitude

42.1155

Longitude

-75.9553

CBSA code

13780

CBSA name

BINGHAMTON, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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