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Property summary
This exceptional investment opportunity encompasses two adjacent properties at 65 and 67 Franklin Street in Auburn, NY. The package includes a substantial 2,500+ square foot ground floor commercial space at 65 Franklin Street, divisible into two separate units, each with its own entrance, bathroom, and utilities. This presents a versatile option for owner-operators or leasing to multiple tenants. Above this commercial space are five fully occupied apartments generating consistent rental income. Many apartments and common areas have recently undergone light renovations. All units benefit from separate utilities for simplified management. The adjacent property, 67 Franklin Street, offers a remodeled 1,720 square foot commercial space currently leased at $1,000 per month, featuring a newer roof. The 0.07-acre lot provides ample space, and convenient short-term street parking is readily available. This combined property offers a compelling blend of commercial and residential income streams, making it an attractive investment for those seeking a diversified portfolio. The separate utilities for each unit simplify management and tracking of expenses. This turnkey opportunity is ready for immediate income generation.
Property profile
VerifiedCap rate & NOI
Current use
-
(Bike/Boat/Book/etc) Store
Location
Value estimations
Owner & transaction history
Zoning & alternative use
NC Neighborhood Commercial District. A. Purpose and intent. The purpose of the Neighborhood Commercial District (NC) is to promote well-designed medium- and small-scale commercial development compatible with surrounding…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
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Price sensitivity
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Property tax & assessments
Tax year 2019Property description
Physical attributes from public recordsZoning & alternative use
NC · Auburn, NYNC Neighborhood Commercial District. A. Purpose and intent. The purpose of the Neighborhood Commercial District (NC) is to promote well-designed medium- and small-scale commercial development compatible with surrounding…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
NC Neighborhood Commercial District. A. Purpose and intent. The purpose of the Neighborhood Commercial District (NC) is to promote well-designed medium- and small-scale commercial development compatible with surrounding…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for NC in Auburn, NY.
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