140 Vlg Sq Painted Post, NY 14870-1320

Property Details for 140 Vlg Sq

Year built

1974

Lot size

0.27 lot acres

Property size

19,425 SF

Zone code

05 - COMMERCIAL

Property type

Investment properties

Property subtype

Retail residential properties

APN

464201 299.13-02-004.000

APU

4642012991302004000

Description

This fee-simple ownership opportunity presents a 18,375 square-foot shopping center in Painted Post, NY, boasting 94% occupancy and a strong 8.45% cap rate. The property, built in 1970 and renovated in 2020, features eleven units totaling 18,375 square feet, with one 1,128 square-foot unit currently available for lease. The asking price is $1,830,140, translating to $99.60 per square foot. The property generates a Net Operating Income (NOI) of $154,647. Recent capital improvements include roof replacement and exterior siding. The center benefits from a diverse tenant mix, including medical and service-oriented businesses such as Rivoli Dental, Miracle Ear, and The Vision Center. Situated on a 0.27-acre lot, the property is zoned VC and enjoys a prime location near major retailers like Walmart, Home Depot, and ALDI, as well as significant residential areas, Corning Sullivan Park R&D Campus, and the Siemens Energy complex. The Village maintains parking, accessways, and sidewalks, eliminating landlord responsibilities in those areas. This well-maintained center offers a compelling investment opportunity with minimal vacancy and strong potential for future growth. The property is offered free and clear of any mortgage financing. Over 23,000 people reside within a five-mile radius.