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345 Cornelia St Plattsburgh, NY 12901

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For Sale
$1,950,000

High-yield retail building with strong tenants.

Property size:
12,500 SF

Property Features for 345 Cornelia St

General Information

Property type
Retail properties
Square Feet
12,500 SF
Lot Size
24,829 SF

Building Details

Year Built
1973

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Listing Contact
Richard Dick Johnson
Richard Dick Johnson

Listing Agency: Adirondack Coast Realty, LLC Listing Agent: Richard Dick Johnson

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Property Insight Report

Overview

This exceptional investment property located at 345 Cornelia St, Unit 345, Plattsburgh, NY, offers a compelling opportunity for savvy investors. The 12,500 square foot retail building sits on a 0.57-acre lot and boasts a strong tenant roster, ensuring consistent income generation. An anchor tenant, Curaleaf Medical Cannabis Dispensary, is secured with a new 8-year triple net (NNN) lease, providing long-term stability. Additional tenants include Shumway Insurance Agency, under a 5-year lease with escalations, and Tech Cellar Cellphone Repair, a 9-year tenant. The remaining space is occupied by professional offices. The property also includes a valuable asset: a 20 x 40 heated garage with a 14-foot overhead door, adding further utility and potential income streams. The property currently enjoys an 8% capitalization rate. Detailed financial information, including income and expense statements, will be provided upon execution of a non-disclosure agreement (NDA) and verification of the buyer's financial capacity. The seller is open to considering a 1031 exchange involving smaller properties, residential properties, land, income-producing properties, or other suitable assets. Creative financing options will also be considered. Property taxes reflect the current assessed value.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Longitude Catering Take-out & Catering Robert L Shumway ... Insurance Agency Curaleaf NY Plattsburgh (Bike/Boat/Book/etc) Store Adirondack Coast Realty Real Estate Agency Jennifer Facteau-Rabideau Physician

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Plattsburgh
County
Clinton
State
New York
Longitude
-73.48093
Latitude
44.69676

FAQs

What type of property is this?
Retail property - High-yield retail building with strong tenants.
Where is this retail property located?
The property is located at 345 Cornelia St Plattsburgh, NY.
What is the asking price?
The asking price for this property is $1,950,000.
More about this property
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