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    2624 Ny-40 Greenwich, NY 12834

    Sponsored
    For Sale
    $875,000

    NY Route 40 Commercial Opportunity

    Property size:
    4,300 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional commercial property, located at 2624 NY-40 in Greenwich, New York, presents a unique investment opportunity. The 4,300 square foot retail space sits on a substantial 157,252 square foot lot (approximately 3.6 acres). Currently configured as a motel with ten units, the property boasts numerous recent improvements and demonstrates significant potential for increased revenue. The existing structure is exceptionally well-maintained and turnkey, offering immediate income generation. The expansive lot allows for diverse development options, including conversion to apartments, expansion of the existing business, or utilization as an AirBnB. The property includes a three-bedroom, three-bathroom ranch home with central air conditioning, a full basement, and a heated garage, providing convenient on-site living. Its strategic location offers easy access to key regional attractions, including the Saratoga Race Track (15 miles) and Lake George (30 miles), as well as Vermont (30 miles). The property's versatility and prime location make it an ideal investment for both established businesses and ambitious entrepreneurs seeking a high-return opportunity in a thriving market. The asking price is $875,000. This is a rare chance to acquire a substantial commercial property with significant upside potential in a desirable location. Don't miss this opportunity to secure a piece of Greenwich's vibrant commercial landscape.

    Property Features for 2624 Ny-40

    General Information

    Property type
    Land
    Square Feet
    4,300 SF

    HighLights

    • 4,300 square foot retail space on a 3.6‑acre lot in Greenwich, NY.
    • Currently operating as a ten‑unit motel with recent improvements and immediate income potential.
    • Features a three‑bedroom, three‑bathroom ranch home with central air and a heated garage.
    • Prime location near Saratoga Race Track (15 miles), Lake George (30 miles), and Vermont (30 miles).
    • Asking price: $875,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Isalis Gift Shop Party City Party Store Skunk Funk Wholesaler Carl's Trading Co Hat Shop Bushka's Kitchen LLC Outdoor Clothing And Equipment Shop

    Suggested Use

    Restaurant Law Firm Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Greenwich
    County
    Washington
    State
    New York
    Longitude
    -73.51778
    Latitude
    43.111706

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    FAQs

    What type of property is this?
    Land - NY Route 40 Commercial Opportunity
    Where is this land located?
    The property is located at 2624 Ny-40 Greenwich, NY.
    What is the asking price?
    The asking price for this property is $875,000.
    What are key features of this property?
    This property features: 4,300 square foot retail space on a 3.6-acre lot in Greenwich, NY.; Currently operating as a ten-unit motel with recent improvements and immediate income potential.; Features a three-bedroom, three-bathroom ranch home with central air and a heated garage.
    Request Owner's contact information
    2624 Ny-40 Greenwich, NY 12834
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    Greenwich, NY 12834
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2624 Ny-40 Greenwich, NY 12834
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