11 Main St Lincoln Park, NY 12401
- Investment properties
- 5,897 SF
- 0.06 lot acres
Current Use by Public Records
- City Hotel / Hotel
- Santa Fe Uptown / Mexican Restaurant
Property Details for 11 Main St
- Year built
- 1909
- Lot size
- 0.06 lot acres
- Property size
- 5,897 SF
- Zone code
- C-2
- Property type
- Investment properties
- Property subtype
- Live-work space
- APN
- 510800 48.331-4-12.100
- APU
- 51080048331412100
Description
This exceptional mixed-use property, located at 11 Main St in Kingston, NY (12401), presents a compelling investment opportunity. The three-story, 6,000 square foot building boasts a blend of residential and commercial space. The commercial component includes a restaurant operating under a modified lease with 20 years remaining. The residential units consist of one three-bedroom apartment and three one-bedroom apartments, all currently leased on a month-to-month basis. All utilities are included in the rent, offering significant operational efficiency. The building is zoned C-2, allowing for a variety of uses. The current below-market rents provide immediate upside potential for increased profitability. With five units total and a strong cap rate of 5.67% at the asking price of $1,450,000, this property offers a solid return on investment. This is a rare chance to acquire a well-situated, income-generating asset in the vibrant Uptown Kingston area. The building's strong cash flow and long-term lease make it an attractive option for discerning investors seeking a stable and appreciating asset. This is a turnkey opportunity to own a piece of Uptown Kingston's thriving commercial landscape.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Kingston
- County
- Ulster
- State
- New York
- Longitude
- -74.0171
- Latitude
- 41.9333
- CBSA code
- 28740
- CBSA name
- KINGSTON, NY METROPOLITAN STATISTICAL AREA
