707 Fairmount AveEllicott, NY 14701
- Retail properties
- 40,973 SF
Property Details for 707 Fairmount Ave
- Year built
- 1957
- Lot size
- 11.70 AC
- Property size (Sq ft)
- 40,973 SF
- Zone code
- 05 - COMMERCIAL
- Property type
- Retail properties
- Property subtype
- Strip malls
- APN
- 063889 386.11-3-3.1
- APU
- 6388938611331
Description
Invest in this prime 40,973 square foot retail strip center, ideally situated in Jamestown's bustling retail corridor. The property boasts 13 suites, with 8,150 square feet currently available for lease. This Class C center, built in 1957, sits on an expansive 11.7-acre lot and offers 231 parking spaces, ensuring ample convenience for customers. Its location along Fairmount Avenue provides exceptional visibility, benefiting from an average daily traffic count of 19,187 vehicles (2019 NYSDOT data). The property features a signalized entrance for easy access and egress. Current tenants include a diverse mix of businesses, creating a vibrant and established retail environment. Available spaces range from approximately 2,000 to 6,150 square feet, offering flexibility for various business needs. The property is zoned for shopping center use (Shopping Center District, APN 38-611-331.0, Chautauqua County). Lease rates start at $10.00 per square foot per year, with estimated NNN costs of $2.82 per square foot per year. Detailed floor plans and 3D tours are readily available. This is an exceptional opportunity to establish or expand your business in a high-traffic, well-established retail center.
Valuation
by Paperhouses methods
- Valuation date:
- Dec 11, 2024
-
CAP approach
- CAP return
- Valuation
- 6%
- $11,552,477
- 6.5%
- $10,663,825
- 7%
- $9,902,123
-
Comparable approach
- Method
- Valuation
- Relative Method
- $10,101,298
- Geo Method
- $20,644,196
-
Alternative Use
- Use
- Valuation
- Residential
- $8,995,335
- Hospitality
- $8,239,679
- Educational
- $6,855,316
- Medical
- $7,091,081
- Retail
- $10,663,825
Location Insight
- City
- Jamestown
- County
- Chautauqua
- State
- New York
- Latitude
- 42.0958
- Longitude
- -79.2798
- CBSA code
- 27460
- CBSA name
- JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
FAQs
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