5 Main St Norwich, NY 13815

This exceptional mixed-use property, located at 5 West Main Street in Norwich, NY, presents a unique investment opportunity. The five-story, 29,230-square-foot building boasts a rich history, having served as an opera house, post office, and Masonic lodge. Completely renovated, it now comprises 12 apartments and two commercial office spaces, totaling 14 rental units with 100% occupancy. The commercial units, each exceeding 2,500 square feet, recently renewed their two-year leases. Apartment units are spread across floors two and three, with two additional apartments located on the ground floor behind the commercial spaces. A new Otis elevator services all floors, providing private access to the expansive owner's penthouse suite on the fourth and fifth floors. This 6,500-square-foot duplex features three bedrooms, three bathrooms, a great room (67' x 55'), a fully equipped cherry kitchen, home theater, pizza oven, stage, dance floor, and a full-length balcony. The building features new mechanicals, windows, and a one-year-old roof with a warranty. Other recent upgrades include a complete fire sprinkler system, new plumbing, lighting, kitchens, bathrooms, flooring, appliances, and heating systems. The building is entirely up to code and includes coin-operated laundry on each floor. Situated in a vibrant location near cafes, restaurants, and shops, this property offers a compelling blend of historical charm and modern amenities, with a strong NOI of $138,139 and an 8% cap rate. The asking price is $1,800,000, with a price per square foot of $61.58. The lot size is 5,663 square feet, and the building is zoned commercial. This is a turnkey investment opportunity with significant potential for future growth.