230 Main StPalmyra, NY 14522

Property Details for 230 Main St

Year built

1870

Lot size

0.04 AC

Property size (Sq ft)

3,476 SF

Zone code

C1

Property type

Investment properties

Property subtype

Live-work space

APN

543601 64111-11-724686

APU

5436016411111724686

Description

This exceptional multi-use commercial property, situated at 230 E Main St in the heart of Palmyra, NY, presents a unique investment opportunity. The three-story brick building boasts a total of 4,554 square feet and sits on a 0.04-acre lot. The property features two street-level storefronts, ideal for a variety of retail or service businesses, and four separate one-bedroom apartments, providing excellent rental income potential. Ample parking is available, with three designated spots for the building and additional street parking, plus a convenient municipal lot located at the rear. While the interior is currently undergoing rehabilitation, this presents a chance for a new owner to customize the space to their exact specifications. The building's prime location in Palmyra ensures high visibility and accessibility, making it an attractive proposition for both established businesses and new ventures. The asking price is $150,000. Offers will be responded to within 24 hours. Don't miss this chance to acquire a versatile property with significant upside potential in a thriving community. Serious inquiries only, please.

• CAP approach

  CAP return

  Valuation

  6%

  $561,316

  6.5%

  $518,138

  7%

  $481,128

• Comparable approach

  Method

  Valuation

  Relative Method

  $317,561

  Geo Method

  $454,174

• Alternative Use

  Use

  Valuation

  Residential

  $642,491

  Hospitality

  $588,518

  Educational

  $489,640

  Medical

  $506,480

  Retail

  $761,662

Location Insight

City

Palmyra

County

Wayne

State

New York

Latitude

43.0634

Longitude

-77.2303

CBSA code

40380

CBSA name

ROCHESTER, NY METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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