Subject property is located on the NW corner of East 4th Street & Pine street in the heart of the Central Business District of the City of Jamestown NY. Jamestown NY is situated just east of Cleveland, OH and approx. 71-miles SW of Buffalo, NY. The two-story, 17,420±SF building, originally constructed in 1920, has been fully renovated with capital improvements since 2019 totaling over $193K± and includes new HVAC units, the addition of a new retention wall at the back of the building, several office units on the second floor, and a brand-new 50-year roof. The property features a rent roll reflective of both professional and destination-based retail/health-services tenants with upside in leasing up the remaining 1,473±SF.
*New York BoR: Balkan Realty License # 109915804
Beautifully Renovated - $193K in Recent Capital Improvements - Including New 50-Yr Roof, HVAC Units, and New Retention Wall
Centrally Located in Business District - Close Proximity Northwest Arena, National Comedy Center and Lucille Ball Little Theatre among other Traffic Generators
Desirable Rent Roll with Mix of Destination-Based & Professional Services / Retail Tenants
Upside in Leasing Remaining 1,473±SF of Vacancy - Interested Parties Actively Touring
Immediate Area Experiencing Significant Boom in Growth & Development - Several New Establishments within 1-M Radius of Subject
Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."
Why are Real Estate Incentives Important and to Whom?
"Incentives" are vital today and in the future because:
U.S. Public: Many incentives focus on job creation and Affordable Housing
Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.