415 Ridge StLewiston, NY 14092

Property Details for 415 Ridge St

Year built

1950

Lot size

0.18 AC

Property size (Sq ft)

2,152 SF

Property type

Investment properties

Property subtype

Live-work space

APN

292401 101.10-2-58

APU

29240110110258

Description

This exceptional mixed-use property in Lewiston, NY, offers a unique blend of commercial and residential space. Located on a 0.18-acre lot, the two-story, 1980-built building is zoned R-B2 and features a spacious first floor ideal for a variety of uses, including a bar, storefront, or traditional office. The ADA-compliant layout is welcoming and open, offering customization potential for diverse business needs. A significant advantage is the 14 on-site parking spaces, a valuable asset in the village's heart. The walk-out basement, accessible via a Center Street easement, presents a fantastic opportunity for additional rental income or expansion of the commercial space. Improvements such as a rear deck or stairs could enhance pedestrian access. Upstairs, a three-bedroom apartment provides potential for additional rental income or on-site living. This high-traffic location in a desirable village offers tremendous potential for entrepreneurs seeking a thriving business in Western New York. The asking price is $295,000.

• CAP approach

  CAP return

  Valuation

  6%

  $390,380

  6.5%

  $360,351

  7%

  $334,611

• Comparable approach

  Method

  Valuation

  Relative Method

  $205,882

  Geo Method

  $194,207

• Alternative Use

  Use

  Valuation

  Residential

  $446,835

  Hospitality

  $409,298

  Educational

  $340,531

  Medical

  $352,243

  Retail

  $529,715

Location Insight

City

Lewiston

County

Niagara

State

New York

Latitude

43.1734

Longitude

-79.0436

CBSA code

15380

CBSA name

BUFFALO-NIAGARA FALLS, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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