12% CAP rate fully leased 7 unit. The property currently produces over $64k in NOI. This rare and extraordinary property presents a one-of-a-kind opportunity with its unique offering of a 7-unit multi-family property perfectly located just one block away from the waterfront in the wonderful vacation town of Sylvan Beach. The property provides easy access to all of Sylvan Beach. Nestled on an expansive half-acre lot, the property offers ample space for future development or various rental options, making it an exceptionally unique investment. Sylvan Beach, is renowned for its natural beauty and recreational activities. It offers an abundance of attractions and amenities that enhance the appeal of this property. Investors and developers will appreciate the immense potential this property holds. With the possibility of further development and expansion, the options are limitless. The property is currently fully occupied and leases up quickly when units go vacant. Owner has never had any long term vacancies.
THIS BUSINESS IS BUSY, BUSY, BUSY! PERFECT SNOW BIRD OPPORTUNITY! Fun, Prestigious, Restaurant and Tiki Bar first established in 1973, updated and renovated with an Island Groove and new outdoor patio dining! For many years operated 365 days a year and opened for lunch, dinner, and late night cocktails. Outstanding numbers for being open 6 months a year! 160 capacity w/50 Paved parking spots. The Business has a solid history of profitability and is very scalable with an exceptional reputation and goodwill expanding over 50 years. Established in Sylvan Beach because of its prime location, and it is a popular tourist & business area that continues to expand! Local significant attractions are The Lake House Casino, Sylvan Beach Amusement Park, Marinas, and The Cove. Only 10 mins away from The Turning Stone Casino, Boxing Hall of fame and NYS Thruway Exit 34. BOOMING Sylvan Beach is centrally located between Syracuse and Utica, a short drive or boat ride from local cities and strong market from Binghamton & Rochester areas as well. The Real Estate includes 2 APTS. Potential Owner Financing w/Half Down.
This Main Street location means great visibility and it's only steps from Oneida Lake's sandy beach! So many possibilities! First floor currently has 3 leased spaces--a hair salon, a retail store and a 5,000 sq ft income producing venders co-op mall as well as storage space. There is also a fully equipped commercial kithen waiting to be utilized. Second and 3rd floors have been used as living space, storage, and office space in the past. They are currently used as storage. There is a lot ot of space here so put your imagination to work! Plenty of off street parking along the side of the building and in the adjoining parking lot for customers and/or tenants. Bring your dreams and ideas and make them a reality in this great Sylvan Beach location!
Sylvan Beach is located in New York. Sylvan Beach, New York has a population of 682. Sylvan Beach is less family-centric than the surrounding county with 10.5% of the households containing married families with children. The county average for households married with children is 26.93%.
The median household income in Sylvan Beach, New York is $42,321. The median household income for the surrounding county is $51,316 compared to the national median of $57,652. The median age of people living in Sylvan Beach is 58.8 years.
The average high temperature in July is 79.4 degrees, with an average low temperature in January of 11 degrees. The average rainfall is approximately 47.6 inches per year, with 108.9 inches of snow per year.