7 Main StFranklinville, NY 14737

Property Details for 7 Main St

Year built

1950

Lot size

0.43 AC

Property size (Sq ft)

5,384 SF

Property type

Specialty properties

APN

044001 40.063-3-24

APU

4400140063324

Description

This exceptional commercial property presents a unique opportunity to acquire a substantial office space in the thriving town of Franklinville, New York. The building, a former bank, boasts 2,444 square feet of versatile space, perfect for a variety of office-based businesses. Its single-story design, situated on a 0.32-acre lot (approximately 110' x 160'), offers ample parking and convenient access for clients and employees. The property's Class C designation reflects its potential for renovation and customization to meet specific business needs. Its strategic location on 7 S Main St places it conveniently between Route 17 and Route 98, ensuring excellent visibility and accessibility. The surrounding area offers a wealth of amenities, including a post office, liquor store, Dollar General, and various restaurants, churches, and other businesses. The zoning is commercial, allowing for a range of potential uses. This freestanding building presents a compelling investment opportunity in a well-established and convenient location. The property's size and location make it an ideal choice for businesses seeking a prominent presence in Franklinville. The ample parking and proximity to major roadways and local amenities further enhance its appeal. This is a rare chance to own a substantial commercial property in a desirable location. The property is located in Cattaraugus County, New York, with a zip code of 14737.

• CAP approach

  CAP return

  Valuation

  6%

  $1,106,900

  6.5%

  $1,021,760

  7%

  $948,773

• Comparable approach

  Method

  Valuation

  Relative Method

  $515,089

  Geo Method

  $338,707

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,035,650

  Retail / Commercial

  $1,039,160

  Mixed-Use / Specialty

  $1,031,750

  Hospitality / Lodging

  $752,132

  Office

  $1,021,760

  Institutional / Educational

  $1,071,280

  Residential Income

  $1,253,390

  Multifamily

  $1,523,820

  Automotive / Energy

  $918,238

  Parking / Income-Based Land

  $320,538

  Restaurant / Food Service

  $528,704

  Healthcare / Senior Housing

  $1,061,840

Location Insight

City

Franklinville

County

Cattaraugus

State

New York

Latitude

42.3384

Longitude

-78.4569

CBSA code

36460

CBSA name

OLEAN, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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