130 Hotel St, Utica, NY 13502-3555

This exceptional redevelopment opportunity presents a unique chance to transform a 48,447 square foot property situated in Utica, NY's vibrant Bagg's Square District. The property, encompassing two buildings (a five-story main structure and a single-story metal building), sits on a 0.55-acre lot boasting 276 feet of frontage on Hotel Street. The main building features existing passenger/freight elevator shafts and two stairwells, offering flexibility for various uses. The open floor plates lend themselves to creative adaptations, including apartments, hotel rooms, offices, or retail spaces. This prime location benefits from significant recent investments in the area, exceeding $1.642 billion, including the new Wynn Hospital, Utica University Nexus Center, and the Cree/Wolfspeed Silicone Carbide Plant. Further enhancing the property's potential, a planned redevelopment directly across the street will add 70 loft-style apartments and ground-floor retail, creating a dynamic and thriving neighborhood. The asking price for this mixed-use, multifamily, and hospitality investment is $2,161,350, translating to $44.61 per square foot. This is a rare chance to capitalize on the revitalization of downtown Utica.