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    OFF-MARKET
    Investment properties

    567 Fairbanks St, Watertown, NY 13601

    18,000 SF 0.07 ac lot Built 1940
    Entity Owned 6-yr Hold Free & Clear
    Property ID
    US63-3670599
    Property summary
    AI-generated overview

    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.

    Property profile
    Verified
    Property type Investment properties
    Use group OFFICE/RESIDENTIAL (MIXED USE)
    Year built 1940
    Total area 18,000 SF
    Lot 0.07 ac (2,976 SF)
    Zoning code UMU
    APN 221800 6-05-303.000
    UPID US63-3670599
    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
    AI Approach AI
    by Request
    CAP Approach CAP
    by Request
    Comparable Approach Comparable
    by Request
    Blend (final) Blend
    by Request
    Owner & transaction history
    Factory Square LLC · 6 yrs held
    Factory Square LLC
    since 2019
    3 recorded transactions
    2019
    $165,000
    2019
    2011
    Zoning & alternative use
    UMU · Watertown, NY
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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