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    OFF-MARKET
    Hotels

    3302 Main St, Mexico, NY 13114-3583

    12,056 SF 0.32 ac lot Built 1930
    Entity Owned 8-yr Hold Absentee Owner ~ Est. High Equity
    Property ID
    US63-1986270
    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
    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
    3291 Main Street LLC · 8 yrs held
    3291 Main Street LLC
    since 2017
    1 recorded transaction
    2017
    $55,000
    Zoning & alternative use
    05 - COMMERCIAL · Mexico, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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