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    Investment properties

    1687 Foster Ave, Schenectady, NY 12308-1818

    3,232 SF 0.09 ac lot Built 1981
    Individually Owned 20-yr Hold Free & Clear
    Property ID
    US63-0512290
    Property summary
    AI-generated overview

    This exceptional mixed-use property at 1687 Foster Avenue in Schenectady, NY, presents a unique investment opportunity. The 3,232 square foot building, constructed in 1920, currently operates as a successful restaurant, offering a turnkey operation for a new owner. The sale includes the adjacent parking lot at 1671 Foster Ave, adding significant value and convenience. The building sits on a 0.1-acre lot (4,125 square feet) and features 9-foot ceilings throughout the main restaurant space. The property's mixed-use zoning allows for the re-establishment of a second-floor apartment, providing potential for additional income or owner occupancy. The property's address is 1687 Foster Ave, Schenectady, NY 12308, and its Assessor's Parcel Number (APN) is 42150039.42-1-9. This is an ideal opportunity for an experienced restaurateur looking to acquire an established business with immediate revenue potential, or for an investor seeking a strong return on investment with the added benefit of potential rental income from a renovated apartment. The asking price for this prime Schenectady location is $189,900. Don't miss this chance to own a thriving business and valuable real estate in a desirable area.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1981
    Total area 3,232 SF
    Lot 0.09 ac (4,125 SF)
    Zoning code 03 - MULTI-FAMILY
    APN 421500 39.42-1-9
    UPID US63-0512290
    Cap rate & NOI
    Priority signal for investors
    Implied cap rate, NOI & suggested price
    Cap rate vs submarket · NOI estimate · 3 price anchors
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Value estimations
    Realmo proprietary · 4 methods
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    Owner & transaction history
    Lewis Riccitello · 20 yrs held
    Lewis Riccitello
    since 2005
    1 recorded transaction
    2005
    Zoning & alternative use
    03 - MULTI-FAMILY · Schenectady, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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