1927 Saranac Ave Lake Placid, NY 12946-1112

Property Details for 1927 Saranac Ave

Year built

2008

Lot size

2.00 lot acres

Property size

8,172 SF

Zone code

02 - SINGLE RESIDENCE

Property type

Office buildings

APN

154089 42.6-3-19.200

APU

154089426319200

Description

This exceptional Lake Placid investment opportunity presents a 7-unit apartment building situated on a 3.4-acre lot (including a contiguous 1.4-acre vacant parcel) at 1927 Saranac Ave, with a total of 8,100 square feet. Built in 2008, the property boasts three buildings and is zoned for commercial use, offering diverse development potential. Currently configured with three apartments (renting for $750, $750, and $600 respectively) and a main level used for doctor's offices and clerical work, the property also includes a 7-unit self-storage area in the lower level, currently leased to a security company for data storage. The main level offers the possibility of conversion into additional apartments, office space, or even light manufacturing. The property features ample off-street parking in a private lot. Building amenities include central air conditioning, baseboard, electric, and radiant floor heating, a 200+ amp electrical service, and a composition roof. The full, partially finished basement offers exterior entry. Safety features include carbon monoxide detectors and a fire alarm. Utilities include cable and internet availability, sewer, and water connections. Tenants are responsible for electricity and heat. The property's high visibility location near Main Street, lakes, shops, and restaurants, combined with its no-village-tax status, makes it an attractive investment. Construction materials include asphalt, wood framing, and wood siding. The lot is level and features many trees and paved areas. The asking price is $1,750,000.