567 Fairbanks St, Watertown, NY 13601
This exceptional investment opportunity presents two historic commercial buildings totaling 22,500 square feet situated on a 0.07-acre lot along Watertown's scenic Black River. The Fairbanks Building, offering 18,000 square feet of adaptable space, previously served retail and storage needs. Adjacent is the Factory Square Building, a substantial structure exceeding 100,000 square feet, with a rich history as the H.H. Babcock Buggy Company's manufacturing site. Both buildings boast high ceilings, cargo elevators, and sprinkler systems, making them suitable for diverse commercial uses. Their prime location near the downtown business district and waterfront offers unparalleled redevelopment potential for retail, office, or mixed-use projects. The sale includes an adjoining warehouse and vacant lot. This unique offering presents a chance to acquire a piece of local history with direct downtown access. Potential for package sale with additional commercial/warehouse space and vacant land across the street is available. The property's historical significance and waterfront setting make it an attractive investment for those seeking restoration or repurposing opportunities.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
UMU · Watertown, NYWatertown. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.