PENDING
23 Main Street, Waddington, NY 13694
$167,000
PENDING
23 Main Street, Waddington, NY 13694
$167,000
| 12,048 sq ft |
1 buildings |
3 stories |
20 parking |
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Property Description
Prime Historic Commercial Residential Investment on Waddington''s Main Street A Rare Multi-Unit Apartment Building with Stable Commercial Income Location, Location, Location: Seize this exceptional opportunity to own a piece of Waddington''s history! Located directly on Main Street, this magnificent historic brick building offers unparalleled visibility and a thriving mix of residential and commercial income. Enjoy being just a short stroll from the majestic St. Lawrence River, offering beautiful views and public waterfront access. Key Investment Highlights * Stable Commercial Tenancy: The large, highly desirable main floor commercial space is currently occupied by the U.S. Post Office, providing a guaranteed revenue stream. Their secure lease of 1333.33/mth plus utilities runs until June 30 2029. Lease attached in Docs * Residential Income: The property features seven apartment units. Four units are currently occupied with income based rents. 2 units are month to month 2 have longer term leases. * Parking Abundance: Offers dedicated parking for approximately 12 vehicles in the rear, plus convenient short-term parking spaces in the front for customers * Recent Updates: This building has seen many recent updates, ensuring the structure is well-maintained and ready for its next owner. Property Details * Current Occupancy: 4 out of 7 residential units occupied. #5 is over the post office and has not been rented will require the bathroom be moved as it is currently directly over the PO computers and has leaked in the past. Units 3 & 8 are vacant and will require some work to rent. Commercial space (US Post Office) is fully occupied. **Due to Postal regs only the lobby is available for showings. * Condition: All occupied units are in good condition with current tenants. * Laundry: Coin laundry equipment is not included in the sale. The existing contract with John''s Appliance may be independently continued by the new buyer. Seller provides lawn care, snow removal, trash (dumpster in back) and utilities for 1st floor (outside of Post office) and common areas. The property is being sold "as is." ALL BUYERS MUST be Preapproved or show VOF Prior to scheduling any showings. ALL SHOWINGS MUST ALLOW 48hr notice to contact ALL tenants. Showings must be coordinated with listing agent AND building manager schedules. The back portion of the post office is not accessible for showings due to post office rules and regs. See attached postal conflict of interest addendum which limits who the Postal Service can lease from (postal employees may be conflict of interest) *Offers may be submitted at any time however, can only be signed/accepted by seller on business days and subject to board and CEO approval. Provide adequate time for offer to be reviewed by appropriate personnel, 24 hours will NOT be enough time. All apts are walk ups, rents are income based. 2 units are month to month, 2 have leases with different expiration dates. (Agents- See Agent info) Current owner is Tax Exempt, taxes will depend on new owner. Taxes are ESTIMATED 3500/yr. No rental inspection required in Waddington Seller pays water/sewer, ins, provides all lawn care snow removal and Trash (dumpster $260mth) Seller pays utilities for Unit 1, Unit 2 (laundry area) and all common areas. ****AGENTS before asking questions ***SEE AGENT REMARKS FOR MORE INFO
Property Summary
| Type | COMMERCIAL / RESIDENTIAL | MLS # | 52249 |
| Buildings | 1 | Year Built | 1951 (75 years old) |
| Parking | 20 | Est. Taxes | $3,500 |
Features
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Other Information |