503-525 Albany Street
Property Description
What if you were presented with a blank canvas to launch your next adventure? Directly located between two of Central New York's main metro hubs and airports of Syracuse and Albany. What type of project would you create? Perhaps a multi-family lofts/apartments project, an entertainment venue, a specialty manufacturing space, medical/professional offices, a restaurant or perhaps a mixed-use commercial property. Let me introduce you to 503 to 525 Albany Street. This intriguing redevelopment opportunity is centered on one of the most prominent streets within the city and one block from the Main Street that is in full swing of recreating 3 of the large buildings into luxe condos and business opportunities. 'Downtown Little Falls' is the oldest neighborhood and an up-and-coming mix-use destination on a path to creating upscale dining, taverns, specialty shopping, cafes and coffee shops. The district stretches from the American Main Street to the historic Canal district with reimagined factory buildings. As a mixed commercial area, creative minded developers are sought to purchase and redevelop this 17,000 Sq. foot building with its 4 stories of: 2 stories open warehouse/storage space, high ceilings that are spacious and unfinished. The third level has been set up and used as living space. Main level is currently rented to 2 commercial entities. This property offers gas and electric utilities and high-speed internet. 3 heating units were replaced in 2017 located in the 2 main floor spaces and third floor apartment. Also included is Central Air. Originally built in 1920s, much of the existing infrastructure may be re-utilized, depending on the project. In Dec. 2021, Little falls was selected to receive 10 million in grant funding to implement transformative capital projects in its downtown area as part of Round Five of the Downtown Revitalization Initiative the DRI, The DRI is a New York State grant program designed to catalyze public and private investment in urban centers with significant opportunities for redevelopment, business growth, job creation and an improved quality of life for all. Make a memorable legacy for the future generations to enjoy.
Broker Details
River Hills Properties LLC (315) 868-6719
MLS ID: rlawrence State License Number: 10491202123
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $199,900 |
| No. of Units: | 2 |
| Year Built: | 1920 |
| Lot Size: | 17,100.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $99,950 |
| Property Website | Click Here |
| Number of Bedrooms: | 1 |
| Number of Bathrooms: | 1 |
ID: 3yd-BNARNY-S1719454
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