257 Main St - Apartments FOR SALE


Johnson City, NY 13790
$1,499,000 USD
607-621-0439
257 Main St, Johnson City, NY for Sale
$1,499,000 USD
Apartments - FOR SALE
1/6
null | Request Cap Rate

257 Main St
Johnson City, NY 13790


HIGHLIGHTS

  • Outstanding value add opportunity.
  • A short walk to the new Pharmaceutical University in Johnson City. A walkable score of 82.
  • 18 Residential Units plus 2 very large Commercial Spaces.
  • 21,248 Square feet. Solid brick building. Each unit has it's own furnace.
  • Separate meters.

OVERVIEW

Property Description Excellent value-add opportunity in the heart of Johnson City’s revitalization. Located at the corner of Main Street and Avenue D, just steps from Binghamton University's Health Sciences Campus, this mixed-use building includes 18 residential units and 2 large street-level commercial spaces. With a total of 25 beds across a mix of studio, 1-, 2-, and 3-bedroom units, each apartment is separately metered and features individual furnaces. The landlord covers water heaters and common area utilities. Ideal for redevelopment, the property sits within an Opportunity Zone and may qualify for Restore NY grant funding. A strategic location with strong long-term upside. FINANCIALS QUOTED ARE PRO FORMA AND ARE AN ESTIMATE BASED ON MARKET RENTS POST RENOVATION. Location Description Strategically located near Binghamton University’s School of Pharmacy, 257 Main Street offers a rare opportunity to reposition a fully vacant 20-unit property in a rapidly growing corridor. Featuring 18 residential units (25 beds) and 2 large commercial spaces, the building is separately metered with individual furnaces per unit. Strong fundamentals, flexible layout, and proximity to student and medical demand drivers make this an ideal value-add or redevelopment play in the heart of Johnson City.

FOR SALE DETAILS

PRICE

$1,499,000 USD

PRICE/SF

$70 USD /SF

# OF UNITS

27

PRICE/UNIT

$55,519

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1960

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,391 SF

ZONING

UMF

APN/PARCEL ID

034603-143-057-0002-033-000-0000

ASK ABOUT THIS PROPERTY

Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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Scott WarrenSVN | Innovative Commercial AdvisorsMore Info
607-621-0439

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