Property Details for 6879 Erie Rd

Lot size

1.40 lot acres

Property size

6,494 SF

Property type

Apartment buildings

Description

This exceptional commercial investment opportunity in Derby, NY, presents 15 residential units spread across 11 buildings situated on a single 1.4-acre lot. Currently generating over $110,000 in annual rental income, this property offers significant upside potential. The property is zoned as a motel, allowing for flexibility in its future use. Consider converting the units to short-term rentals to dramatically increase revenue, or simply raise existing rents to boost profitability. All buildings have undergone recent, significant improvements, including the complete replacement of roofs, water lines, gas lines, and electrical lines, ensuring minimal maintenance needs for the foreseeable future. The 6,494 square foot property boasts a highly visible location on Route 5, benefiting from consistent traffic flow and proximity to the picturesque Lake Erie shoreline. The strong local residential community and the year-round appeal of nearby attractions like Lake Erie Beach Park create a robust and diverse potential customer base, making this a versatile investment ideal for a variety of commercial ventures. This is a rare opportunity to acquire a well-maintained, high-income-generating property in a desirable location with substantial growth potential. The property's current configuration and zoning provide a unique blend of stability and flexibility, making it an attractive option for both seasoned investors and those seeking a high-return, low-maintenance investment.

Location Insight

City

Derby

County

Erie

State

New York

Longitude

-78.9836

Latitude

42.6994