531 3rd St - Apartments FOR SALE


Niagara Falls, NY 14301
$995,000 USD
716-867-0700
531 3rd St, Niagara Falls, NY for Sale
$995,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

531 3rd St
Niagara Falls, NY 14301


HIGHLIGHTS

  • Located at the heart of Niagara Falls with direct access to the Ontario which is less than a half mile to the property.
  • Nestled between an assortment of entertainment options including the Seneca Niagara Casino which is within walking distance.
  • A security system with mobile monitoring and gated parking in the rear of the building provides residents peace-of-mind.
  • Ground floor retail adds to the value and allure of the property, presenting opportunities for increased returns.

OVERVIEW

Arista Development is pleased to present an opportunity to acquire the Verrazano, a newly remodeled mixed-use building in the heart of the Niagara Falls Renaissance. The property features first floor retail units available for lease as well as ten apartments located on the upper levels. Residents will be drawn by the new granite countertops, handmade cabinetry, cityscape views from historical windows, and a security system with mobile monitoring. In proximity to multiple points of interest in all directions, the Verrazano is less than a mile to Niagara Gorge as well as the Rainbow Bridge, which provides access to Ontario, and is at the epicenter of the area’s entertainment and nightlife. For residents looking to try their hand at poker or other games of chance, Seneca Niagara Casino is a brief eight-minute walk to the building as are a multitude of high-end and casual dining options such as Rainforest Café. A convenient 14-minute drive connects 529 – 531 3rd Street to the Niagara Falls International Airport and the closest I-190 on-ramp is within 10 minutes, providing access south and east throughout New York. Those looking to escape into greenery are steps from the Niagara River and less than a five-minute drive to Goat Island which provides a picturesque backdrop for photo ops. The Verrazano is primed and ready to be the latest addition in the astute investor’s portfolio.

FOR SALE DETAILS

PRICE

$995,000 USD

PRICE/SF

$56 USD /SF

# OF UNITS

10

PRICE/UNIT

$99,500

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Verrazzano on 3rd

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1900

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.2 AC

LAND SF

8,712 SF

ZONING

C2-A

APN/PARCEL ID

291100-159-029-0001-005-000

ASK ABOUT THIS PROPERTY

Robert NucherenoArista Real Estate & Development Services, LLCMore Info
716-867-0700

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Robert NucherenoArista Real Estate & Development Services, LLCMore Info
716-867-0700

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