650 W German St - Apartments FOR SALE


Herkimer, NY 13350
$750,000 USD
214-707-8009
650 W German St, Herkimer, NY for Sale
$750,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

650 W German St
Herkimer, NY 13350


HIGHLIGHTS

  • https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419
  • Strategic Location: Centrally located in Herkimer, NY, specifically catering to the student population of nearby institutions like Herkimer CC
  • Diverse Income Model: Features a robust mix of residential, commercial, and amenity-based revenue streams, including a restaurant, convenience store,
  • High-Occupancy Infrastructure: A 36,500 SF masonry building with an elevator, 24-hour access, and a total capacity for 57 students.
  • Opportunity Zone Benefits: Located within a designated Opportunity Zone, providing significant tax advantages for long-term investors
  • Parking Advantage: Features a 1.29/bed parking ratio (40 surface spaces), a rare and valuable competitive edge in the local student housing market

OVERVIEW

Access Due Diligence for 650 W German St. at https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419 Brookwood Apartments at 650 W German St. represents a premier student housing and mixed-use investment opportunity in the heart of Herkimer, NY. This 36,500-square-foot masonry asset is strategically positioned to capture the high-demand student market while offering a robust, diversified revenue model that provides significant protection against market volatility. The property’s core residential component is designed with a 57-bed capacity across 31 units, featuring a versatile mix of seven one-bedroom units, twenty-two two-bedroom units, and large-format three and four-bedroom floor plans. Beyond the core residential income, the property functions as a true mixed-use hub, further stabilizing the cash flow through year-round commercial and amenity-based revenue. The building features an on-site restaurant currently under a monthly lease, serving as a "sticky" anchor amenity for the student residents while providing the owner with steady, non-enrollment-dependent commercial income. Additionally, the property includes a first-floor convenience store and specialized revenue streams tied to regional baseball lodging programs, laundry, and vending services. From an operational standpoint, Brookwood Apartments offers superior fundamentals and significant value-add potential. The 1.15-acre site features a massive parking advantage with a 1.29/bed ratio (40 surface spaces), a key competitive edge in the suburban student housing market. The building itself is a well-maintained three-story masonry structure equipped with an elevator, 24-hour access, and master-metered utilities for streamlined management. Access Due Diligence for 650 W German St. at https://bracketre.com/listing/d25df389-149f-4011-9bfc-eec5270e0419

FOR SALE DETAILS

PRICE

$750,000 USD

PRICE/SF

$21 USD /SF

# OF UNITS

31

PRICE/UNIT

$24,194

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Brookwood Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential, Dormitory

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1910

PARKING SPACES

40

LAND DETAILS

LAND ACRES

1.15 AC

LAND SF

50,094 SF

ZONING

C

APN/PARCEL ID

213001-120-024-0002-009-000-0000

ASK ABOUT THIS PROPERTY

Jonathan DiamondBracket Real Estate, Inc.More Info
214-707-8009

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

Jonathan DiamondBracket Real Estate, Inc.More Info
214-707-8009

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