114 Main StSherman, NY 14781

Property Details for 114 Main St

Year built

1970

Lot size

0.11 AC

Property size (Sq ft)

1,480 SF

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

066601 328.10-2-19

APU

6660132810219

Description

This unique, historic mill located at 114 E Main St, Sherman, NY presents a remarkable investment opportunity. Boasting 13,836 square feet across three levels on a half-acre lot, this property offers immense potential for a variety of commercial uses. The main level features a renovated office area complete with two bathrooms and a kitchen, seamlessly transitioning into a spacious shop area. High ceilings, a recently installed blower system, and a three-bay loading area enhance functionality. A rear storage room, extending the length of the building, includes sleeving for various materials. Significant exterior improvements, facilitated by a $20,000 grant, enhance the property's curb appeal. The second floor reveals a large open area with potential for various uses, including a former grain storage area and ample cabinet space. New flooring and a compressor are included. The dry basement provides extensive storage, a rear exterior door, and electrical panels with 500-amp service. This property is priced at $200,000 and awaits a visionary owner to unlock its full potential. The combination of historical charm, substantial square footage, and modern improvements makes this a truly exceptional offering in the heart of Sherman.

• CAP approach

  CAP return

  Valuation

  6%

  $299,615

  6.5%

  $276,568

  7%

  $256,813

• Comparable approach

  Method

  Valuation

  Relative Method

  $147,977

  Geo Method

  $201,345

• Alternative Use

  Use

  Valuation

  Residential

  $342,944

  Hospitality

  $314,135

  Educational

  $261,357

  Medical

  $270,345

  Retail

  $406,555

Location Insight

City

Sherman

County

Chautauqua

State

New York

Latitude

42.1591

Longitude

-79.5961

CBSA code

27460

CBSA name

JAMESTOWN-DUNKIRK-FREDONIA, NY MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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