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5-Unit Apartment Building

221 N Prospect Street, Herkimer, NY 13350

For Sale
$209,900

CommercialSale, Herkimer, NY

Property Size5,652 SF
Lot Size0.16 Acres
Price / SF$37.14
Days on Market49

Property Features for 221 N Prospect Street

General Information

Property type Commercial Sale
Property subtype Apartment
Zoning Res/Com
Zoning description Commercial
Parking 6
Lot features Rectangular, Rectangular Lot
Elementary school district Herkimer
Middle school district Herkimer
High school district Herkimer
Subdivision Herkimer-Village-213001
Standard status Active
APN 213001-120-025-0001-004-000-0000
Size 5,652 SF
Lot size 0.16 Acres

Additional Details

Tenant in Place Yes

Taxes and HOA fees

Tax Annual Amount 4969

Utilities

Sewer type Public Sewer
Heating system Forced Air, Natural Gas
Water source Public

Building Details

Year built 1974
Floors in Building 2
Building materials Block
Roof type Asphalt
Buildings 1
Listing Agency: Coldwell Banker Faith Properties · Coldwell Banker Real Estate
Listed By: Sarah L. Roy · License NY 40RO1105903
Added: Sep 28 Changed: Nov 13 Last Checked: Nov 15 at 3:06PM
MLS# S1718227

Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

Rey
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Investment Insights

Based on property information with market context.

This 5-unit apartment building contains three 1-bedroom apartments, one studio, and one 2-bedroom apartment. The 5,652-square-foot building was constructed in 1974 with block construction and has a relatively new asphalt roof. Heating is provided by natural gas and forced air; the property also has public water and public sewer. Zoning is Res/Com.

The 0.16-acre property includes six dedicated parking spaces. Herkimer College is described as having direct access from the property, with village amenities within easy travel distance.

Key Highlights

  • Five apartments: three 1‑bedroom units, one studio, and one 2‑bedroom unit
  • All five units are currently rented
  • 5,652‑square‑foot building on a 0.16‑acre lot

Property Analytics

Who owns this building? See the owner, sales and loan history
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Lease Details

5
Residential units
100%
Occupancy

Location Intelligence

Trade Area within ½ mile

845
Businesses Nearby

Demographics for 13350, NY

9,513
Population
4,709
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
31.6 sq mi
ZIP Area
301
Density / Sq Mi
$62,548
Median Household Income
$37,975
Median Earnings
$821
Median Rent
$136,400
Median Home Value
Check the figures for this property Cap Rate, Value Estimation, Potential NOI and more
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Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022
4.6% 2023
5.3% 2024
5.6% 2025

Frequently Asked Questions

What type of property is this?
Apartment building - All apartments are occupied, and dedicated parking is provided on site.
Where is this apartment building located?
The property is located at 221 N Prospect Street Herkimer, NY.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Five apartments: three 1‑bedroom units, one studio, and one 2‑bedroom unit; All five units are currently rented; 5,652‑square‑foot building on a 0.16‑acre lot
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