2 Washington Ave

Highlights

• - 6,094 SF mixed use building
• - 8 separate units with 2 retail spaces on 1st floor
• -Separate utilities
• - Constructed in 1965
• - Prime location in the heart of Endicott
• - Potential for steady rental income
• - In a Federal Opportunity Zone.
• - All Rents below FMR for the area.
• - Significant Value Add Opportunity.

Description

This commercial real estate mixed use building is located within a Federal Opportunity Zone brimming with potential. With Endicott boasting a rich history as the birthplace of IBM and recent announcements of a Battery Manufacturer and Solar Manufacturer, the area's trajectory is clear. Moreover, a $160M research and development grant, alongside recognition as one of the 32 Technology hubs by the Biden Administration, underscores its promising future. Currently, 7 out of 8 apartments are rented and there is one vacant retail space. The other retail space will soon become home to a new 2000 sq ft coffee shop with a signed 7-year lease that includes incremental rent increases, presenting a stable income stream. With separate utilities and a strategic location, this investment promises not just returns, but a stake in Endicott's flourishing commercial market. All rents are well below FMR for the area leading to a significant value add opportunity. Don't miss your chance to be part of this thriving narrative—a valuable asset awaits those ready to seize it.
The same owner has had this property since 2016. In 2001 he changed LLC's and refinanced it. This looks like a sale in public records. It was not.

Discover the vibrant and dynamic community surrounding this prime commercial property in Endicott, NY. Endicott, known as the birthplace of IBM, is swiftly evolving into a technology hub, attracting innovative businesses and investments. With recent announcements of a new Battery Manufacturer, Solar Manufacturer, and a significant research and development grant, the area promises an exciting future for businesses. Additionally, the region's designation as one of the 32 Technology hubs by the Biden Administration underscores its potential for growth and development. Investors can capitalize on the rich history of innovation and the promising future of the Endicott area, making it an ideal location for a diverse range of retail and commercial ventures. This is a corner traffic light location and walking distance to the Price Chopper Plaza, BAE Systems, The Huron Campus and the new IM3 Battery Gigafactory.

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