Property profile

3302 Main St Mexico, NY 13114

OFF-MARKET
Hotels
Property ID
US63-1986270
12,056 SF 0.32 ac lot Built 1930
Entity Owned 9-yr Hold Absentee Owner ~ Est. High Equity
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Property summary

AI-generated overview

This exceptional 17,304 square foot mixed-use property, situated on 0.3 acres at 3302 Main Street in the heart of Mexico, NY's historic downtown business district, presents a unique investment opportunity. The property has been awarded a substantial $1,836,000 Restore NY Grant specifically for capital improvements, focusing on rehabilitation and repairs to restore the building to commercial viability. An approved plan exists for a mixed-use development incorporating five short-term rental studios, two long-term apartments, and a cafГ©/restaurant on the lower level. However, the property's versatility allows for alternative uses, such as a brewery, cidery, or other food and retail services. Its strategic location offers significant advantages. The property is conveniently located near major corporate offices, retail centers, and public transportation. Furthermore, its proximity to the new Micron Technology semiconductor plant in Clay, NY (20 miles away), adds considerable long-term growth potential. The charming village of Mexico boasts a desirable location near world-class salmon fishing, Lake Ontario (Oswego), Syracuse (via Route 81), the Salmon River (Pulaski), and Watertown, ensuring a strong base of potential customers and residents. This is a rare chance to acquire a property with significant grant funding and immense redevelopment potential in a thriving and strategically located community. The asking price is $379,900.

Property profile

Verified
Property type Hotels
Use group HOTEL
Year built 1930
Total area 12,056 SF
Lot 0.32 ac (14,151 SF)
Zoning code 05 - COMMERCIAL
APN 353401 134.10-05-19.01
UPID US63-1986270

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3302 Main St Mexico, NY 13114-3583
Mexico metro Census 20400 SYRACUSE, NY METROPOLITAN STATISTICAL AREA
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Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$295k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$265k

Owner & transaction history

since 2017
1 recorded transaction
2017
$55,000

Zoning & alternative use

05 - COMMERCIAL · Mexico, NY

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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