Property summary
This exceptional Malone, NY property at 21 Elm St, Units 21-23, presents a unique investment opportunity. Encompassing 4,466 square feet on a 0.08-acre lot, this mixed-use building combines commercial and residential spaces. Currently, the property houses office space and three apartments, two of which have undergone recent renovations. A brand new rubber roof was installed in the fall of 2023, ensuring long-term durability. All units are currently rented, providing immediate cash flow and potential for future growth. The strategic corner location at the intersection of Main and Elm Streets places the property in a high-traffic area, ideal for a small business. The existing apartment rentals offer significant potential to offset mortgage payments. The building offers flexibility for expansion, with the possibility of adding more office space or another apartment unit to further increase revenue. Detailed financial information (P&L) is available upon request, allowing potential buyers to thoroughly assess the property's financial performance and investment potential. This is a rare opportunity to acquire a well-maintained, income-generating property in a prime Malone location.
Property profile
VerifiedCap rate & NOI
Current use
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Physician Medical Clinic
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Foster Care Service Social Service Agency
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Advertising Agency Marketing & Advertising
Location
Value estimations
Owner & transaction history
Zoning & alternative use
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Price sensitivity
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Property tax & assessments
Property description
Physical attributes from public recordsZoning & alternative use
01 - NOT ZONED · Malone, NYZoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
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