198 N Main St - Storefront Retail/Residential FOR SALE


Salem, NY 12865
$249,777 USD
518-281-6808
198 N Main St, Salem, NY for Sale
$249,777 USD
Storefront Retail/Residential - FOR SALE
1/79
null | Request Cap Rate

198 N Main St
Salem, NY 12865


OVERVIEW

Right in the heart of Salem village -- and working hard already. This well-maintained mixed-use building offers the kind of versatility that's increasingly rare at this price point in Washington County. Four apartments -- one 2-bedroom and three 1-bedrooms -- sit above two vacant commercial spaces on the first floor, generating $3,200 per month in residential rental income with additional upside potential from the two retail spaces ready for a new tenant or owner-operator. The apartments are updated, functional, and consistently occupied. The 2-bedroom unit rents at $1,000/month, the main floor 1 bedroom at $800/month, and both third floor units at $700/month each. Appliances and mechanicals have been methodically refreshed throughout -- refrigerators and stoves replaced within the last 1-5 years across all units, hot water tanks ranging from 1-5 years old, and the commercial spaces feature a 2-year old furnace. Separate electric heat in the apartments. The building has seen significant capital improvements including new electric, windows, and roof replacements on both the main and lower sections. Live here, work here, and collect rent while you do it -- or hold it purely as an income-producing asset in a village that draws visitors year-round. Salem sits at the crossroads of some of the region's most desirable destinations -- Saratoga Springs, Granville, Greenwich, and Manchester VT are all within easy reach. A detached garage and barn at the rear offer additional storage and long-term potential for the right buyer. Retail spaces are vacant and available for showings. The four apartment units may be viewed by virtual showing only. Please do not disturb the tenants. In person showing(s) may be made contingent upon an in-person viewing after a signed offer is in place.

FOR SALE DETAILS

PRICE

$249,777 USD

PRICE/SF

$69 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1902

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.15 AC

LAND SF

6,534 SF

ZONING

mixed

APN/PARCEL ID

534800-209-009-0001-033-000-0000

ASK ABOUT THIS PROPERTY

Scott VarleyThe Scott Varley Team / Keller WilliamsMore Info
518-281-6808

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Scott VarleyThe Scott Varley Team / Keller WilliamsMore Info
518-281-6808

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.