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14311 Route 9W

New Baltimore, NY 12124
  • $1,395,000
  • STATUS: ACTIVE
  • MLS #: 20223278
UPDATED: 32 min ago
$1,395,000
  • 0
    BEDS
  • 3.55
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 16,346
    SQFT
  • $85
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1950
Area:

School Ratings & Info

School District:

Description

Commercialproperty consisting of a 12-unit Apartment Building, a Large Single-Family Home, an Office, and a 28-room motel (that is in the process of being converted into 16 new apartments). Theapartment building is about 50/75% renovated with great tenants, the house is currently vacant but rent-ready, the office is vacant and the motel is under conversion into 16 newly approved apartments. There are two sections of the Motel, one section (North side building) is completelygutted and about 75% framed for the new apartments. The South side motel strip has 10 original motel rooms (that could be rented AS-IS), and then 4 units that are partially gutted. The property is priced for a quick sale. Owner estimates about $275,000 to complete the property renovation. Income and expense sheet is estimated based on renovation completion. Cap rate is based on asking price of $1,395,000 + estimated renovation costs of $275,000= $1,670,000 completion price with projected rents (see attached associated doc's). Property is located about 20 from the City of Albany. List agent is part owner.

Extras: 28 Room motel is in the process of being renovated into 16 apartments. Motel conversion is fully approved with Architectural plans and building permit.

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© 2022 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Home Team | Berkshire Hathaway HomeServices Hudson Valley Properties are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2022-11-29T21:18:30.233
www.hudsonvalleyshometeam.com/homes/133961170
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14311 Route 9W New Baltimore, NY 12124

  • Price: $1,395,000
  • Status: ACTIVE
  • On Site: Days
  • Updated: 32 min ago
  • MLS #: 20223278
0
Beds
0
Baths
0
½ Baths
3.55
Acres
16,346
SQFT
$85
$/SQFT
1950
Built
Neighborhood:
Greene
Area:
Greene
School District:
Rav-Coey-Selkirk
Property Description
Commercialproperty consisting of a 12-unit Apartment Building, a Large Single-Family Home, an Office, and a 28-room motel (that is in the process of being converted into 16 new apartments). Theapartment building is about 50/75% renovated with great tenants, the house is currently vacant but rent-ready, the office is vacant and the motel is under conversion into 16 newly approved apartments. There are two sections of the Motel, one section (North side building) is completelygutted and about 75% framed for the new apartments. The South side motel strip has 10 original motel rooms (that could be rented AS-IS), and then 4 units that are partially gutted. The property is priced for a quick sale. Owner estimates about $275,000 to complete the property renovation. Income and expense sheet is estimated based on renovation completion. Cap rate is based on asking price of $1,395,000 + estimated renovation costs of $275,000= $1,670,000 completion price with projected rents (see attached associated doc's). Property is located about 20 from the City of Albany. List agent is part owner.

Extras: 28 Room motel is in the process of being renovated into 16 apartments. Motel conversion is fully approved with Architectural plans and building permit.
Exterior Features

Construction Masonry Garage Parking Extras DrivewayLot-PavedOff StreetParking Spaces 20+ Lot Features Landscaped Road Frontage Country RoadState RoadUs Highway

Interior Features

Basement FullPartialSlab Electricity 200 AMPS Floors CarpetCeramicHardwoodVinyl Heat Source Forced Air Heating Fuel Electric Hot Water Gas

Property Features

Annual Income 323460 Annual Net 203602 Annual Taxes 24517 Current Business Type Apartment Included Flood Plain No Foreclosure YN No General Tax 8468 Lease Type Month To MonthOne Year Listing Type Exclusive Right Lot Site Hamlet/VillageSuburb Monthly Income 26955 Owner Pays All Utilities Sewer Septic In-Ground Short Sale YN No Tennant Pays Rent Only Type Other Water Municipal

© 2022 by Hudson Valley Catskill Region MLS.
Listing # 20223278 provided courtesy of Gregory Berardi of Berardi Realty: 845-201-1111.
© 2022 by Hudson Valley Catskill Region MLS. All Rights Reserved. The data relating to real estate on this website comes in part from the IDX of the Hudson Valley Catskill Region MLS. Real estate listings held by brokerage firms other than The Home Team | Berkshire Hathaway HomeServices Hudson Valley Properties are marked with IDX logo and the detailed information about them includes the name of the listing broker. All information provided is deemed reliable but is not guaranteed and should be independently verified. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data Last Updated:2022-11-29T21:18:30.233
 
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