KINGSTON,CITY NY - ID: 20200503
On the Market
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  • Price: $1,600,000
  • Sq. Feet: 5,726
  • Acreage: 0.07
  • Year Built: 1920
  • School District: KINGSTONCONSOLD
  • CONTACT
    Grist Mill Real Estate
    (800) 664-5503
    gristmill@gristmillrealestate.com
Property Type: Mixed Use

Description: Uptown Kingston mixed use building featuring a fully equipped turn-key restaurant/bar with two NYC loft style apartments on the second and third floor. Thriving restaurant has recently closed due to owner relocation (business is for sale asking $100, 000). Second floor apartment has been completely renovated offering 1 bedroom, two full bathrooms and a rooftop deck (could easily be a 2 bedroom apartment) and is currently rented for $2, 200 a month with the tenant paying all utilities. Third floor apartment is currently one unit, 2-3 bedroom with two full baths (but was split into two 1-bedroom apartments in the past), available for rent at $2, 500 with electric included. In this unit there are two full bathrooms, 1 kitchen and laundry area that was previously the second kitchen, unit could easily be converted back into two apartments making it a commercial 1st floor space with 3 apartments. Income and expense sheet reflects current status of building with projected rents as a commercial space and 2 apartments. See associated docs for income and expense at asking price. Full basement with high ceilings is great for storage, has full beer cooler and office. The exterior offers a front patio facing Wall Street and a rear patio facing Fair Street (could be used as parking or additional seating).
Updates, first floor bar/restaurant was created in 2016, second floor apartment was renovated in 2018 and third floor apartment updated in 2019. Top roof was 1/2 redone in 2018 and the original roof is about 8 yeas old. second floor roof was re-coated about 2 years ago. 1st floor boiler is about 1 year old, 2nd floor boiler is about 2 years old and the 3rd floor boiler is about 1 year old. Bar/restaurant electric also does the 3rd floor apartment (can easily be split up by adding a new panel and meter).


FEATURES:
NUMBER OF UNITS: 3
WATER: 4800
ZONE: Comm1
LOT DIMENSIONS: 25x126
ELECTRICITY: 200 Amps
LOT FEATURES: Level, Parking Lot
LOT/SITE: City
ROAD FRONTAGE: City Street

Listing courtesy of: Win Morrison Realty / Listing Agent: Gregory Berardi
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