242 Grant Ave Auburn, NY 13021

Property Details for 242 Grant Ave

Year built

1925

Lot size

0.57 lot acres

Property size

6,879 SF

Property type

Commercial real estate

Description

This exceptional commercial property, located at 242 Grant Avenue in Auburn, NY, presents a lucrative investment opportunity. Situated on a 0.57-acre lot in Auburn's busiest commercial corridor, this property boasts a total of 6,879 square feet and comprises two buildings. The front building features a ground-floor commercial space currently leased, generating consistent rental income, and a one-bedroom apartment on the upper level. The rear building houses four additional one-bedroom apartments, further enhancing the property's income potential. The combined annual gross rent from all units totals $55,800, demonstrating a strong cash flow. This property offers a unique blend of commercial and residential income streams, making it an ideal investment for those seeking a diversified portfolio. The strategic location within a high-traffic commercial area ensures excellent visibility and accessibility for both commercial tenants and residential occupants. The property's size and layout provide ample opportunity for future expansion or redevelopment, allowing for increased rental income or alternative uses. This is a rare opportunity to acquire a well-established, income-producing property in a prime Auburn location. The asking price is $375,000.