453 Grippen Hill Rd, Vestal, NY, 13850

453 Grippen Hill Rd Vestal, NY 13850

453 Grippen Hill Rd, Vestal, NY, 13850
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FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$789,000
Last Verified:
Nov 30, 2024

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Highlights

  • - Stately 3,948 SF building
  • - Nine Bedrooms & 8 Bathrooms
  • - Historically significant, built in 1885
  • - Distinctive property in the desirable Vestal area

Description

Presenting an exceptional investment prospect in Vestal, NY, this Respite Care Facility boasts a stately 3,948 SF building featuring nine bedrooms and 8 bathrooms. With its rich history and potential for growth, this property stands as a compelling investment opportunity for investors seeking to break into medical real estate. All Income is Pro Forma based on previous business. Property to be delivered vacant with a business plan to Re-Open this Respite Care Facility. This Facility comes fully furnished and features an inground pool that visiting relatives can enjoy.

As an investor eyeing opportunities in Vestal, NY, the area surrounding the property offers a strategic blend of amenities and conveniences. Binghamton University stands as a notable hub for talent, fostering opportunities for collaboration and innovation. The property's proximity to Route 17 ensures seamless access to major thoroughfares, promoting connectivity and facilitating ease of transportation for businesses and visitors alike. Vestal's vibrant mix of residential, commercial, and recreational facilities creates a dynamic and diverse community, providing an attractive environment for establishing a professional presence. With its advantageous location and proximity to key points of interest, Vestal presents an appealing prospect for office building investors seeking a promising combination of accessibility, talent, and potential for growth.


Year Built: 1885
Building Size: 3948sq ft
Building Class: C
Lot Size: 1.08 acres


Documents

SVN - 453 Grippen Hill Rd- Respite Care Facility
SVN - Respite Care Facility Flyer

Map of 453 Grippen Hill Rd, Vestal, NY, 13850

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What are Real Estate Incentives?

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.