226 Genesee StUtica, NY 13502

For Sale
$825,000

Historic Bar, Huge Potential, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional Class A commercial property, located at 226 Genesee St, Utica, NY 13502, presents a unique investment opportunity. The 8,010 square foot building, constructed in 1950, features a thriving, historic bar and restaurant on the ground floor, boasting original handcrafted Meyda Tiffany lighting and a vintage bar. The property includes three stories, with the upper two floors offering significant untapped potential for residential conversion, creative studios, or other commercial uses. The building sits in a prime downtown location, within walking distance of the Wynn Hospital, Stanley Theatre, Adirondack Bank Center, and Harbor Point development. With a strong NOI of $200,000 and an attractive 24.24% cap rate, this owner-user investment offers a compelling return. The property is zoned commercial and is a single-unit building. This is a rare chance to own a piece of Utica's revitalization. The asking price is $825,000.

Highlights

  • $825,000 asking price for a Class A, owner-user investment opportunity.
  • 8,010 square feet of net rentable space in a 3-story building.
  • 24.24% cap rate with a $200,000 NOI.
  • Located at 226 Genesee St, Utica, NY 13502, in a prime downtown location near key attractions.
  • Historic bar and restaurant with original features, plus untapped potential on upper floors for residential or commercial use.
  • Built in 1950, with Commercial zoning.

Property Details for 226 Genesee St

Property type
Investment properties, Other commercial real estate
Square Feet
8,010 SF
Class
A
Year Built
1950
Buildings
1
Stories
3
Units
1

Location Insight

City
Utica
County
Oneida
State
New York
Latitude
43.100592424195
Longitude
-75.233013997004
226 Genesee St, Utica, New York

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226 Genesee St
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