365-369 West 1st Street S, Fulton, NY 13069
Sold on Warranty Deed with clear title - No back taxes- No liens.
Great Investment opportunity in a great location
Riverfront commercial property offered at very attractive price
33,326 sq ft Two Story Mixed Use Building on 0.894 acres
Fully equipped 33,326 sq ft Commercial building in an accessible location on 0.89 acres ready for occupation with little work needed. The property is located on a High traffic volume street by the Oswego River in a main retail area with several main retailers such a Family Dollar, Aaron’s and Save-a-lot and restaurants such as Pizza Hut.
The property has great potential and suitable for a variety of uses including retail, offices, sport and entertainment*.
Gross Income potential $250,000/year
Description
The property consists of a two-story building with a two-level basement and sits on a 0.894 lot.
Lot dimensions: Frontage: 253 ft - Depth: 154 ft
There is space for parking along the 253 ft front of the property.
The street level floor contains many offices and meeting rooms of various sizes. The southern half contains a large open area which once housed a thrift store. The offices were used as call center and offices and still have a large number of call desks, filing cabinets, office desks, phones and a phone system.
The second floor has 3 gyms and several rooms that were set up for classes one being for dance classes. Other areas were used for sport and other activities including a wrestling club, indoor basketball and other activities, and still has many pool tables, air hockey tables, benches, desks and Gym equipment. There is a small attic above the southern gym which is used for storage.
The basement at the back of the building which faces the river is on two-levels and offers plenty of storage space. It is located under the southern side of the street level as a partial floor which has been mainly used as storage and has a small tunnel area which contains HVAC equipment. There are two stairwells from this floor going to second floor below which is also used for storage.
The property has several toilets, kitchen and lots of open space.
The property is in generally good condition and has been well maintained and many areas are fully equipped ready for occupation and the utilities are already connected. A section of the property need repairs and maintenance, but no major work is needed. Externally, a section of the framing at the side of the building has been removed will need re-fixing.
READY TO LEASE OUT WITH LITTLE WORK NEEDED
IDEAL FOR OWNER OCCUPIER AS READY TO MOVE IN OR FOR AN INVESTOR FOR IMMEDIATE INCOME
Many parts of the property are ready for occupation and can be rented out right away to generate immediate income. They can be rented for offices, classes, a call center or sport club as property already set up for these uses with many facilities already existing.
Potential uses*:
Retail, showroom, restaurant, warehousing, distribution, servicing, offices, manufacturing and production.
The property could best have a mixed use with retail at the front, warehousing at the back and offices on the first or second floor. The property has many openings at the front which can be adapted to become display windows for retail. The property also has a potential for a nice restaurant or bar at the back of the second floor overlooking the Oswego River and the water falls. The second floor can also be used for a games and entertainment center with bars and restaurants.
The property is currently zoned commercial c2, so the above uses are acceptable. Depending on the proposed use, the property may benefit from the re-opening of windows which were blocked (at the back), to let in more air and light. Any changes would have to go through the planning board.
*subject to zoning approval
Features:
• Busy retail location
• High Traffic volume street
• Carpeted offices ready for occupation
• Several toilets
• HVAC
• Sprinkler system
• Stained wooden door and windows
• Fully equipped kitchen and several fridges in various locations
• Parking space along the length of the building
• Waterfront site
• Utilities connected and operational
• Fully equipped offices
• Offices set up and equipped as call center if needed
• Plenty of storage space in basement on two level
• Comprehensive phone system
• Surveillance cameras
• Beautiful scenery on Oswego river and water falls
• Gym, pool tables, air hockey and other facilities and equipment
• Indoor basketball
• Lockable storage rooms
• Full lighting installed
• A large number of potential uses
Location:
The property is located on a high traffic volume street, in a busy retail area opposite a shopping Plaza by the Oswego River overlooking the damn and water falls and Huhtamaki across the river, which one of the main employers in the area. It is less than a mile from Downtown Fulton.
Syracuse, NY 26 miles
Rochester, NY 71 miles
Utica, NY 73 miles
The property is close to many excellent schools and comprehensive local facilities and amenities:
Restaurants
Pizza Hut (.1 mi), Foursome Diner (.1 mi), West Side Tavern (.1 mi), Norma Jean's Cafe (.2mi), The Pies Guys (.2mi), Tavern On the Lock (.5mi), Mimi's Drive Inn (.6mi), Ny Pizzeria (.6mi), Blue Moon Grill (.6mi), Red Baron Pizza (.7mi), Mama Gina's Pizzeria (.7mi), Subway (.7mi), Little Caesars Pizza (.8mi), BURGER KING® (.9mi), Chick N Chop J B's (.9mi), Arby's (.9mi), Lakeview Lanes (.9mi), Fastrac Markets (1mi), Mr.Mike's Seafood (1mi), Upperlandings Neighborhood Bar (1mi), Dragon City Chinese Restaurant (1mi), Chester's Bar (1mi), Wendy's (1mi), Pizza Hut (1mi), China Garden (1.1mi), China Star Takeout (1.1mi), Jreck Subs (1.1mi), GJP Italian Eatery (1.2mi), Subway (1.2mi), Fajita Grill (1.3mi), Domino's Pizza (1.4mi), Top of the Hill Diner (1.4mi), McDonald's (1.8mi), Subway (1.9mi), Refuel/Authentic Hoagies and Pizza (Valero in Volney, NY) (2mi), Big Dipper Ice Cream Parlor (2.1mi), Puddle Jumpers (2.2mi), Battle Island Restaurant (2.6mi)
Coffee
Cathy's Café (0.2mi), Dunkin' Donuts (.4mi), Backstreet Books & Bistro (.6mi), Dunkin' Donuts (.8mi), Sweet Inspirations Inc (.9mi), MGM Computer Cafe Inc (.9mi), Otto's diner (1mi), 7-Eleven (1mi), No Biggie Café (1mi), Dunkin' Donuts (1.1mi), Barnes & Noble College at Cayuga Community College (2.1mi)
Bars
Gormans Tavern (.5mi), Red Brick Pub (.9mi), Crazy Gator (1mi), Rosie S Tavern (2mi), Whoosah Lounge Inc (4.8mi)
Groceries
Price Chopper (.4mi), Sunshine Produce (.9mi), Cayuga Street Food Stores\ Mirabito's (.9mi), Fulton Farmers Market (1mi), Save-A-Lot (1.1mi), Walmart Supercenter (1.2mi), Sammy's Mini Market (1.2mi), Nice N Easy Grocery Shoppe (1.9mi), Tops Friendly Markets (2mi)
Parks
Foster Park (.3mi), Battle Island State Park (2.4mi)
Schools
Granby Elementary School (.2mi), G Ray Bodley High School (1.1mi), Fairgrieve School (1.1mi), Volney Elementary School (1.7mi), Fulton Junior High School (1.9mi), J E Lanigan School (1.9mi)
Shopping
Backstreet Books & Bistro (.6mi), Uniforms Etc LLC (.6mi), Balloonatics Playhouse (.9mi), Family Dollar Store (1.1mi), Loder's Antiquarian Books (1.6mi), Barnes & Noble Booksellers (2.1mi)
Entertainment
Friends of History In Fulton, N.Y., Inc. - Pratt House Museum (.9mi), Midway Drive In Theatre (3.9mi)
Errands
Pathfinder Bank (.4mi), Tiffany L. Haber, RPH (.4mi), Burke's Home Center (.5mi), Tyler Dorothy (.5mi), Community Bank NA (.5mi), Dorothy Tyler, RPH (.6mi), Fulton Savings Bank (.6mi), Tractor Supply Co. (.7mi), Brian P. Cassidy, RPH (.8mi), Hargraves Pharmacy (1mi), Susan E. Daratt, PharmD (1mi)
(walkscore.com)
Demographics*:
1 mile 3 miles 5 miles
Total population 7,736 15,327 21,063
% White alone 95.55% 95.94% 96.23%
% Hispanic origin 3.56% 3.19% 2.73%
2017 Average Household Income $50,022 $60,695 $65,915
*Costar
Crime rate: Very low (Trulia.com)
Traffic
|
Collection Street |
Cross Street |
Traffic Vol |
Year |
Distance |
|
W 1st St S |
Pine St SE |
11,450 |
2016 |
0.02 mi |
|
W Broadway |
W 2nd St SW |
13,470 |
2016 |
0.13 mi |
|
E Broadway |
S 1st St SW |
21,540 |
2016 |
0.28 mi |
Great Investment opportunity:
UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A SUBSTANTIAL HIGH-INCOME PROPERTY FOR A DISCOUNTED PRICE.
Comparable For Sale:
826 Holly Dr Fulton, NY 13069- 7,000 SF- Offices- $299,000 ($42/ SF)
201 S 2nd St Fulton, NY 13069- 3,000 SF- $275,000 ($91/SF)
369 S 2nd St Fulton, NY 13069 – 1,560 SF- $145,000 ($176/SF)
801 W Broadway - 801 W Broadway Fulton, NY 13069- 3,900 SF- $309,900 ($79/SF)
898-900 S. First Street (Rt. 481) Fulton, NY 13069 – 12,625 SF- $550,000 ($43/SF)
1849 Rt-3 - 1849 State Route 3, Fulton, NY 13069 Fulton, NY 13069- 12,800 SF- $650,000 ($50/SF)
34 S 1st St - Lower Falls Building Fulton, NY 13069- 13,080 SF- $850,000 ($65/ SF)
The majority of the properties that are offered for sale in this area are offered within at a price ranging from about $40 to $90/SF property.
This property is offered well below market price at a fraction of the price of comparable properties, a great opportunity to buy with built -in equity.
Great income potential
Average yearly rent of similar property per SF in Oswego County: $10.13 / sq ft (Costar)
Assuming alower attractive rate of rent of $7.5/SF/ Year the projected gross income is about: $250,000 ($20,833/ month)
Real Estate Taxes:
Oswego County NY parcel ID: 253.23-04-02
PROPERTY IS SOLD AS IS, WHERE IS- Warranty deed- Clear title – No liens, No back taxes
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
There is no document preparation fee or auction premium for this auction.
10% non-refundable deposit, is due within 48 hours of auction close to be paid in escrow to the title company.
Final Payment to be made within 3 weeks of the Auction close.
All bidders to do their due diligence. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Sale is ‘As IS’ and Buyers are responsible for fixing building code violations (if any). Buyers are bound by the Purchase Agreement which is attached under the Due Diligence section. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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