1A Brickyard Rd - Apartments FOR SALE


Mechanicville, NY 12118
$3,550,000 USD
315-863-2777
1A Brickyard Rd, Mechanicville, NY for Sale
$3,550,000 USD
Apartments - FOR SALE
1/20
null | Request Cap Rate

1A Brickyard Rd
Mechanicville, NY 12118


HIGHLIGHTS

  • Site approvals for 40 Townhouse units site plans also include 3 additional (8) unit buildings that will need approvals for total of 64 units
  • Financials info is for only 16 existing units
  • Constructions Plans are available
  • Private attached garages
  • In unit Washer & Dryers
  • Balconies and front porches

OVERVIEW

Gennaro Commons is an approved subdivision featuring 40 approved high-end townhouse-style units with 24 additional units planned that will need final approvals making this a total of 64 units. . Located off Cold springs Road and Brickyard Road in Mechanicville, this development offers an exceptional residential experience slightly north of the city proper, bordering the charming area of Stillwater. This location seamlessly blends tranquility with convenience, as it is nearby major local industrial hubs, retailers, businesses, and manufacturers. Residents will enjoy the benefits of living in a serene environment while having easy access to urban amenities. There are a total 40 townhouse-style units of which 16 units are completed, and 24 units are approved and ready for permit issuance. Each townhouse is thoughtfully designed to offer modern comforts and style: Private garage for each unit, Hardwood floors throughout, Washer and dryer in each unit, balconies and front porches for relaxation The financial projections for Gennaro Commons are promising. The potential annual income from all 40 units is estimated at $700,000. With expenses projected to be below $300,000, the development offers a lucrative opportunity for investors and stakeholders. This community not only promises a high standard of living for its residents but also presents a sound investment in the thriving Mechanicville-Stillwater region.

FOR SALE DETAILS

PRICE

$3,550,000 USD

PRICE/SF

$398 USD /SF

# OF UNITS

16

PRICE/UNIT

$221,875

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

GENNARO COMMONS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2017

PARKING SPACES

32

LAND DETAILS

LAND ACRES

8.44 AC

LAND SF

367,646 SF

ZONING

ID

APN/PARCEL ID

415289 262.-1-1.111

ASK ABOUT THIS PROPERTY

Amy SgromoJulie & Co RealtyMore Info
315-863-2777

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Amy SgromoJulie & Co RealtyMore Info
315-863-2777

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