Description
This 9 unit mixed use building in downtown Buffalo is a turn-key investment opportunity in one of the most desirable locations in town. The 17,204 square foot brick building is a stable, renovated (2020) and rented asset w/ 12 off street parking spots, a 6 year old tear-off roof, and has an elevator thats 5 years old. The first floor is home to Pour Taproom Buffalo who has a lease through 2026, and is responsible for their portion of the property taxes, water expense, and their own electric and gas service. The restaurant has 3 heating/cooling units and 2 (80 gallon) HWT's for efficient operations. The 8 residential APT's are all on floors 2 and 3. Four of the apartments are 2 beds/1 bath, and the other four apartments have 1 bed/1 bath with separate heating/cooling units and HWTs. 4 of the apartments feature in unit laundry and the other four have access to on floor common laundry, and all appliances are convey. The gross income is $200,400/year, and the total property taxes are $12,651.88. The parking lot behind the building (305 Franklin Street), and the building next door (492/494 Pearl Street) are also available for sale. Property also listed under Multi 5+ units MLS:B1455333
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0BEDS
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0.2ACRES
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0BATHS
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01/2 BATHS
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17,204SQFT
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$134$/SQFT
Description
This 9 unit mixed use building in downtown Buffalo is a turn-key investment opportunity in one of the most desirable locations in town. The 17,204 square foot brick building is a stable, renovated (2020) and rented asset w/ 12 off street parking spots, a 6 year old tear-off roof, and has an elevator thats 5 years old. The first floor is home to Pour Taproom Buffalo who has a lease through 2026, and is responsible for their portion of the property taxes, water expense, and their own electric and gas service. The restaurant has 3 heating/cooling units and 2 (80 gallon) HWT's for efficient operations. The 8 residential APT's are all on floors 2 and 3. Four of the apartments are 2 beds/1 bath, and the other four apartments have 1 bed/1 bath with separate heating/cooling units and HWTs. 4 of the apartments feature in unit laundry and the other four have access to on floor common laundry, and all appliances are convey. The gross income is $200,400/year, and the total property taxes are $12,651.88. The parking lot behind the building (305 Franklin Street), and the building next door (492/494 Pearl Street) are also available for sale. Property also listed under Multi 5+ units MLS:B1455333
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Listing information © 2023 CNYIS, GENRIS, WNYREIS. Listing provided by Nicholas Giambra of Keller Williams Realty Wny : 716-239-6432.