31 N Main ST N Sherburne, NY 13460
15,400 SqFt
UPDATED:
Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
Square Footage 15,400 sqft
Price per Sqft $31
MLS Listing ID S1656689
Construction Status Existing
HOA Y/N No
Year Built 1965
Annual Tax Amount $23,080
Lot Size 1.000 Acres
Acres 1.0
Lot Dimensions 378X290
Property Description
No additional due diligence needed, the property was checked and remediated several years ago with all DEC documents available.
INVESTMENT OVERVIEW:
LAND AND SITE IMPROVEMENTS:
Included in the sale are three distinct lots or parcels, which together span more than three acres. The property is further enhanced by key site improvements, such as extensive asphalt paving, a gas station currently maintained by the Gas Company, but operated by the current Tenant, an air station, and the primary building. The specific parcels included are identified as LOTS 44.16-2-23, 44.16-2-24, and 44.16-2-25.
INVESTMENT HIGHLIGHTS:
This property presents a strong investment opportunity with an established tenant already in place, providing immediate rental income and dependable cash flow. Based on the current income structure, the investment has the potential to be recouped in under five years.
• Flexible gas station operations: the investor may either operate the gas station directly; allow the current tenant to continue managing it or make a deal with the Current Operator for a Percentage.
• Projected annual income ranges from $18,000 to $36,000, depending on the chosen operating structure.
• The current tenant is responsible for annual property taxes of $23,300, along with maintenance, utilities, and related operating costs.
• This arrangement may provide nearly $60,000 in annual savings, reducing the investor's operating burden and improving overall profitability.
• The Lease can be improvised to add another tenant and to increase the overall potential income.
BUILDING FEATURES AND LEASING FLEXIBILITY:
The main building contains 15,400+/- square feet and offers flexible space for a variety of business uses. Its layout allows for convenient subdivision, giving the owner the option to lease portions of the property to multiple tenants.
Location
State NY
County Chenango
Area Sherburne-Village-085603
Zoning 454/330
Direction Route 12 to Main Street
Interior
Heating Oil, Forced Air
Inclusions Land and Building
Fireplace No
Exterior
Utilities Available Electricity Connected, Sewer Connected
Roof Type Flat,Membrane,Rubber
Total Parking Spaces 70
Building
Lot Description Irregular Lot
Building Description Block,Frame,Other,Wood Siding, Office
Story 1
Sewer Public Sewer
Level or Stories One
Structure Type Block,Frame,Other,Wood Siding
Construction Status Existing
Schools
School District Sherburne-Earlville
Others
Tax ID 085603-044-160-0002-025-000-0000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
Virtual Tour https://www.propertypanorama.com/instaview/syr/S1656689
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